J. Safra Sarasin Holding AG Sells 74,363 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Occidental Petroleum Corporation by 24% during the first quarter, selling 74,363 shares, leaving them with a total of 235,696 shares valued at $11.63 million.
• The company reported a quarterly earnings per share (EPS) of $0.87, exceeding analysts' expectations of $0.74, along with a revenue of $6.80 billion, which was slightly below the expected $6.97 billion.
• Occidental Petroleum recently announced a quarterly dividend of $0.24 per share, set to be paid on October 15th, and has a current dividend yield of 2.2%.

J. Safra Sarasin Holding AG decreased its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 24.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235,696 shares of the oil and gas producer's stock after selling 74,363 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Occidental Petroleum were worth $11,634,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OXY. MassMutual Private Wealth & Trust FSB raised its stake in shares of Occidental Petroleum by 20.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock worth $81,000 after buying an additional 274 shares during the period. World Investment Advisors raised its stake in shares of Occidental Petroleum by 6.6% in the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer's stock worth $242,000 after buying an additional 306 shares during the period. Koshinski Asset Management Inc. raised its stake in shares of Occidental Petroleum by 1.0% in the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer's stock worth $1,616,000 after buying an additional 309 shares during the period. Seaview Investment Managers LLC raised its stake in shares of Occidental Petroleum by 6.8% in the fourth quarter. Seaview Investment Managers LLC now owns 4,891 shares of the oil and gas producer's stock worth $242,000 after buying an additional 310 shares during the period. Finally, Aaron Wealth Advisors LLC raised its stake in shares of Occidental Petroleum by 4.9% in the first quarter. Aaron Wealth Advisors LLC now owns 6,663 shares of the oil and gas producer's stock worth $329,000 after buying an additional 310 shares during the period. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $43.38 on Friday. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $59.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The firm has a market capitalization of $42.69 billion, a P/E ratio of 17.63 and a beta of 0.91. The stock has a 50 day moving average price of $43.73 and a 200 day moving average price of $44.67.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same period last year, the company earned $0.63 EPS. Occidental Petroleum's quarterly revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. Occidental Petroleum's payout ratio is 39.02%.

Analyst Ratings Changes

Several research firms recently issued reports on OXY. Citigroup increased their target price on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Scotiabank increased their target price on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Piper Sandler increased their target price on Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company cut their target price on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and an average target price of $53.71.

About Occidental Petroleum

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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