PARUS FINANCE UK Ltd Decreases Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• PARUS FINANCE UK Ltd has reduced its stake in Occidental Petroleum Corporation by 7.5%, holding 223,493 shares worth approximately $11 million.
• Occidental Petroleum recently reported an earnings per share (EPS) of $0.87 for the quarter, exceeding analysts' expectations, while the company's revenue increased by 13.9% year-over-year.
• The company announced a quarterly dividend of $0.24 per share, with an annualized yield of 2.2%, set to be paid on October 15th.

PARUS FINANCE UK Ltd reduced its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,493 shares of the oil and gas producer's stock after selling 18,125 shares during the period. Occidental Petroleum accounts for about 3.8% of PARUS FINANCE UK Ltd's investment portfolio, making the stock its 11th largest holding. PARUS FINANCE UK Ltd's holdings in Occidental Petroleum were worth $11,032,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Altshuler Shaham Ltd bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $26,000. Bernard Wealth Management Corp. purchased a new stake in Occidental Petroleum during the 4th quarter valued at $32,000. Grove Bank & Trust increased its holdings in shares of Occidental Petroleum by 129.2% in 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 in the last quarter. American National Bank & Trust purchased a new position in shares of Occidental Petroleum in the first quarter worth $39,000. Finally, Quarry LP lifted its holdings in shares of Occidental Petroleum by 615.2% during the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer's stock valued at $49,000 after purchasing an additional 849 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

OXY traded up $1.03 on Thursday, hitting $43.57. 19,225,062 shares of the company's stock traded hands, compared to its average volume of 10,746,315. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $59.31. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. The firm has a market cap of $42.88 billion, a price-to-earnings ratio of 25.78 and a beta of 0.91. The company's 50 day simple moving average is $43.86 and its 200-day simple moving average is $44.42.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.95%. Occidental Petroleum's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

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 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 presently 39.02%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. UBS Group lowered their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler raised their target price on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company decreased their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Stephens dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $53.71.

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.