J. Safra Sarasin Holding AG Sells 95,042 Shares of Occidental Petroleum Co. (NYSE:OXY)

J. Safra Sarasin Holding AG cut its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 23.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 310,059 shares of the oil and gas producer's stock after selling 95,042 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Occidental Petroleum were worth $15,320,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $27,000. Atala Financial Inc acquired a new position in shares of Occidental Petroleum during the fourth quarter worth $40,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $42,000. 88.70% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company's stock.

Occidental Petroleum Stock Up 1.3 %

Shares of OXY traded up $0.51 during trading hours on Thursday, reaching $40.34. The stock had a trading volume of 7,841,431 shares, compared to its average volume of 10,841,942. The firm has a 50-day simple moving average of $45.07 and a 200 day simple moving average of $48.32. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $68.43. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $37.91 billion, a price-to-earnings ratio of 16.53 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. Equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.38%. Occidental Petroleum's dividend payout ratio is 39.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the company an "overweight" rating in a research report on Wednesday, March 26th. Piper Sandler cut their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday. TD Cowen cut shares of Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their price target for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. StockNews.com lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Finally, Stephens decreased their price objective on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $54.19.

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.