Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Tejara Capital Ltd
Tejara Capital Ltd trimmed its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,223 shares of the oil and gas producer’s stock after selling 13,768 shares during the quarter. Occidental Petroleum accounts for approximately 2.9% of Tejara Capital Ltd’s portfolio, making the stock its 6th biggest position. Tejara Capital Ltd’s holdings in Occidental Petroleum were worth $7,415,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth about $26,000. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth about $32,000. Grove Bank & Trust increased its position in shares of Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares during the last quarter. American National Bank & Trust purchased a new position in Occidental Petroleum during the 1st quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Occidental Petroleum during the 1st quarter valued at about $39,000. 88.70% of the stock is owned by institutional investors and hedge funds.
Occidental Petroleum Price Performance
Shares of NYSE OXY opened at $44.83 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $58.47. The stock has a 50 day moving average of $44.12 and a two-hundred day moving average of $44.22. The stock has a market cap of $44.13 billion, a P/E ratio of 26.52 and a beta of 0.91.
Occidental Petroleum (NYSE:OXY — Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Occidental Petroleum’s payout ratio is currently 56.80%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Susquehanna lowered their target price on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Piper Sandler raised their target price on Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. JPMorgan Chase & Co. raised their target price on Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Mizuho lowered their target price on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Finally, Barclays lifted their target price on Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.71.
View Our Latest Report on Occidental Petroleum
Occidental Petroleum Company 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.
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