Occidental Petroleum Corporation $OXY Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG trimmed its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 91.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,616 shares of the oil and gas producer’s stock after selling 138,430 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Occidental Petroleum were worth $885,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Portus Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the 1st quarter worth $29,000. Caitlin John LLC purchased a new position in Occidental Petroleum during the fourth quarter valued at $29,000. Activest Wealth Management lifted its holdings in Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares in the last quarter. Rossby Financial LCC grew its position in shares of Occidental Petroleum by 155.0% in the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the period. Finally, Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum during the third quarter worth about $35,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.4%

Shares of NYSE:OXY opened at $54.60 on Wednesday. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The stock has a market cap of $54.31 billion, a P/E ratio of 13.75 and a beta of 0.15. The business has a fifty day moving average of $54.80 and a two-hundred day moving average of $52.75. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the firm earned $0.14 EPS. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, research analysts expect that Occidental Petroleum Corporation will post 5.93 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s dividend payout ratio is 26.20%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OXY. BMO Capital Markets raised their price target on shares of Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Wolfe Research boosted their price objective on Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Zacks Research downgraded Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Evercore upgraded Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Wednesday, July 8th. Finally, UBS Group lowered their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $64.26.

Insider Activity

In other news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.

About Occidental Petroleum

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.