Occidental Petroleum Corporation $OXY Holdings Lowered by Tejara Capital Ltd

Key Points

• Tejara Capital Ltd reduced its holdings in Occidental Petroleum by 8.4% during Q1, owning about 150,223 shares worth approximately $7.4 million now.
• Occidental Petroleum reported $0.39 earnings per share for the latest quarter, beating analysts' expectations, while revenue totaled $6.41 billion, down 6.1% year-over-year.
• The company announced a quarterly dividend of $0.24, with a yield of 2.1%, to be paid on October 15th to shareholders of record on September 10th.

Tejara Capital Ltd lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,223 shares of the oil and gas producer's stock after selling 13,768 shares during the period. Occidental Petroleum comprises 2.9% of Tejara Capital Ltd's holdings, making the stock its 6th biggest holding. Tejara Capital Ltd's holdings in Occidental Petroleum were worth $7,415,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Occidental Petroleum by 20.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock valued at $81,000 after purchasing an additional 274 shares in the last quarter. World Investment Advisors lifted 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 acquiring an additional 306 shares during the period. Koshinski Asset Management Inc. lifted 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 acquiring an additional 309 shares during the period. Seaview Investment Managers LLC lifted 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 acquiring an additional 310 shares during the period. Finally, Aaron Wealth Advisors LLC lifted 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 acquiring an additional 310 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on OXY shares. Piper Sandler lifted their price objective on Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Wall Street Zen lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Morgan Stanley reissued an "equal weight" rating and issued a $52.00 price target on shares of Occidental Petroleum in a research note on Monday. Mizuho dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their price target on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and an average price target of $53.43.

Occidental Petroleum Stock Down 0.6%

Occidental Petroleum stock traded down $0.2550 during trading on Tuesday, hitting $43.9550. 7,257,533 shares of the company were exchanged, compared to its average volume of 11,947,168. The business's 50 day moving average is $44.19 and its 200 day moving average is $44.11. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $58.47. The company has a market capitalization of $43.27 billion, a P/E ratio of 26.01 and a beta of 0.91. 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 (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum's revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. Analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm 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. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is 56.80%.

Occidental Petroleum 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.