Occidental Petroleum Co. (NYSE:OXY) Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 23.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 310,059 shares of the oil and gas producer’s stock after selling 95,042 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Occidental Petroleum were worth $15,320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of OXY. Virtu Financial LLC grew its position in Occidental Petroleum by 1,181.3% during the 3rd quarter. Virtu Financial LLC now owns 65,437 shares of the oil and gas producer’s stock worth $3,373,000 after purchasing an additional 60,330 shares during the last quarter. Rule One Partners LLC purchased a new position in shares of Occidental Petroleum during the third quarter worth about $14,199,000. PVG Asset Management Corp acquired a new position in Occidental Petroleum in the 3rd quarter valued at about $411,000. Blankinship & Foster LLC purchased a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $314,000. Finally, Tidal Investments LLC lifted its position in Occidental Petroleum by 67.9% during the 3rd quarter. Tidal Investments LLC now owns 80,025 shares of the oil and gas producer’s stock worth $4,124,000 after acquiring an additional 32,356 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Roth Capital set a $54.00 price target on Occidental Petroleum in a research note on Thursday, January 23rd. TD Cowen cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their target price for the stock from $68.00 to $45.00 in a research note on Tuesday, April 8th. Stephens dropped their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Truist Financial boosted their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $55.81.

Occidental Petroleum Stock Up 3.3 %

Shares of NYSE OXY opened at $39.72 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm’s 50-day moving average is $45.57 and its two-hundred day moving average is $48.55. Occidental Petroleum Co. has a 12-month low of $34.79 and a 12-month high of $68.43. The company has a market capitalization of $37.33 billion, a PE ratio of 16.28 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Equities analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 10th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.