PARUS FINANCE UK Ltd Has $11.94 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

PARUS FINANCE UK Ltd lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,618 shares of the oil and gas producer’s stock after selling 9,300 shares during the quarter. Occidental Petroleum makes up approximately 3.7% of PARUS FINANCE UK Ltd’s portfolio, making the stock its 9th biggest position. PARUS FINANCE UK Ltd’s holdings in Occidental Petroleum were worth $11,938,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OXY. Vanguard Group Inc. lifted its holdings in Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock worth $3,365,992,000 after buying an additional 10,434,098 shares during the period. Geode Capital Management LLC lifted its stake in shares of Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 shares during the period. H&H International Investment LLC grew its stake in Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after purchasing an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Occidental Petroleum by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock worth $209,349,000 after purchasing an additional 229,210 shares in the last quarter. Finally, Cooke & Bieler LP increased its stake in shares of Occidental Petroleum by 14.6% in the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock worth $146,184,000 after acquiring an additional 377,952 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OXY shares. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Stephens reaffirmed an “overweight” rating and set a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $81.00 to $64.00 in a report on Monday, March 10th. UBS Group raised their price target on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Truist Financial upped their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $59.82.

Occidental Petroleum Stock Down 1.3 %

NYSE OXY opened at $48.84 on Friday. The stock’s 50-day moving average price is $48.28 and its 200-day moving average price is $49.89. The company has a market capitalization of $45.90 billion, a P/E ratio of 20.02 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week high of $71.19.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. On average, equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

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.