PARUS FINANCE UK Ltd Has $10.78 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)
PARUS FINANCE UK Ltd increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) by 124.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,550 shares of the oil and gas producer’s stock after buying an additional 100,058 shares during the quarter. Occidental Petroleum accounts for about 5.6% of PARUS FINANCE UK Ltd’s investment portfolio, making the stock its 8th largest position. PARUS FINANCE UK Ltd’s holdings in Occidental Petroleum were worth $10,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new position in Occidental Petroleum in the 3rd quarter valued at $308,000. Rational Advisors LLC bought a new position in Occidental Petroleum in the 3rd quarter valued at $54,000. DekaBank Deutsche Girozentrale raised its position in Occidental Petroleum by 13.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 150,752 shares of the oil and gas producer’s stock valued at $9,927,000 after purchasing an additional 18,118 shares during the last quarter. Aviva PLC raised its position in Occidental Petroleum by 0.6% in the 3rd quarter. Aviva PLC now owns 551,243 shares of the oil and gas producer’s stock valued at $35,765,000 after purchasing an additional 3,436 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its position in Occidental Petroleum by 8.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 72,701 shares of the oil and gas producer’s stock valued at $4,717,000 after purchasing an additional 5,432 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on OXY shares. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. Truist Financial downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their target price for the stock from $84.00 to $69.00 in a research report on Thursday, May 16th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Wells Fargo & Company dropped their target price on Occidental Petroleum from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Finally, Barclays started coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price for the company. Eleven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.50.
Read Our Latest Analysis on OXY
Occidental Petroleum Price Performance
OXY opened at $59.84 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18. The company has a fifty day simple moving average of $64.09 and a 200 day simple moving average of $61.41. The stock has a market cap of $53.06 billion, a P/E ratio of 16.35 and a beta of 1.59.
Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. On average, research analysts expect that Occidental Petroleum Co. will post 3.89 EPS for the current year.
Occidental Petroleum Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.
Insiders Place Their Bets
In other news, major shareholder Berkshire Hathaway Inc bought 765,899 shares of the stock in a transaction on Wednesday, June 12th. The stock was purchased at an average price of $60.28 per share, for a total transaction of $46,168,391.72. Following the acquisition, the insider now owns 252,333,913 shares in the company, valued at $15,210,688,275.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 3,261,633 shares of company stock worth $195,475,671. Corporate insiders own 0.31% of the company’s stock.
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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