Tejara Capital Ltd Decreases Stock Position in Occidental Petroleum Corporation $OXY

Tejara Capital Ltd trimmed its holdings in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 68.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,500 shares of the oil and gas producer’s stock after selling 102,723 shares during the period. Tejara Capital Ltd’s holdings in Occidental Petroleum were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $27,000. Hantz Financial Services Inc. raised its position in shares of Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 788 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Occidental Petroleum in the 1st quarter valued at approximately $39,000. MeadowBrook Investment Advisors LLC grew its holdings in Occidental Petroleum by 371.7% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 788 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new position in Occidental Petroleum during the second quarter worth $51,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of several recent research reports. Melius assumed coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective on the stock. Roth Capital upped their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Citigroup lowered their price target on shares of Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. UBS Group cut their price objective on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Finally, Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.52.

Check Out Our Latest Analysis on Occidental Petroleum

Occidental Petroleum Stock Performance

NYSE:OXY opened at $41.46 on Friday. The company has a market cap of $40.84 billion, a P/E ratio of 24.53 and a beta of 0.91. The firm’s 50 day moving average is $42.90 and its two-hundred day moving average is $43.78. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY — Get Free Report) last released its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. Analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio is currently 70.59%.

Occidental Petroleum Company Profile

(Free Report)

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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