J. Safra Sarasin Holding AG Trims Stock Holdings in Occidental Petroleum Corporation $OXY

J. Safra Sarasin Holding AG reduced its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,046 shares of the oil and gas producer’s stock after selling 19,393 shares during the period. J. Safra Sarasin Holding AG’s holdings in Occidental Petroleum were worth $6,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after purchasing an additional 1,361,541 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Occidental Petroleum by 134.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock valued at $85,798,000 after purchasing an additional 1,040,941 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Occidental Petroleum by 11.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer’s stock valued at $412,045,000 after purchasing an additional 900,677 shares during the period. Aventail Capital Group LP purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $39,613,000. Finally, Swedbank AB purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $35,517,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 1.9%

Shares of OXY stock opened at $64.99 on Wednesday. The company’s fifty day simple moving average is $52.07 and its two-hundred day simple moving average is $45.87. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $67.45. The stock has a market cap of $64.45 billion, a P/E ratio of 40.37 and a beta of 0.34. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the business posted $0.80 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. Analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 10th. This represents a $1.04 annualized dividend and a yield of 1.6%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s dividend payout ratio (DPR) is 64.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America increased their price target on Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. HSBC upped their price objective on Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Piper Sandler upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $66.00 in a research report on Thursday, March 12th. Truist Financial started coverage on Occidental Petroleum in a research note on Tuesday, March 24th. They set a “hold” rating and a $65.00 target price on the stock. Finally, TD Cowen upped their price target on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.59.

Trending Headlines about Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Earnings-estimate revisions are moving upward, which supports near-term upside expectations and helps explain recent buying pressure. Analysts and research notes cite improved EPS outlooks that can lift sentiment. Earnings Estimates Rising for Occidental (OXY)
• Positive Sentiment: OXY is trading near its 52-week high and is listed among stocks with momentum and upside potential—momentum can attract more buyers and technical funds. 4 Stocks Trading Near 52-Week High With More Upside Potential
• Positive Sentiment: Recent analyst attention includes upgrades/price-target lifts that have helped push OXY to a new 12?month high — analyst optimism is a direct support to the stock. Occidental Petroleum (NYSE:OXY) Hits New 12-Month High on Analyst Upgrade
• Positive Sentiment: Macro/peer momentum: coverage of Berkshire Hathaway’s energy holdings and broader interest in energy names has buoyed stocks like OXY, adding to investor appetite. Warren Buffett’s Energy Picks Soared
• Neutral Sentiment: Citi left a “hold/neutral” rating on OXY while raising its price target, a mixed signal (the PT bump is constructive but the rating tempers bullish conviction). Citi Keeps Their Hold Rating on Occidental Petroleum (OXY)
• Negative Sentiment: Contrarian/technical caution: some commentary argues the stock may be near a short-term peak and suggests income strategies (covered calls) or profit-taking, which could apply downward pressure if investors act. Occidental Petroleum Stock May Be at a Peak – Time to Sell OXY Covered Calls?

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.