Callan Family Office LLC Grows Stake in Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• Callan Family Office LLC increased its stake in Occidental Petroleum by 26.7%, owning 50,413 shares valued at approximately $2.49 million after purchasing an additional 10,625 shares in the first quarter.
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, with an annualized dividend yield of 2.2%, payable on October 15th for stockholders of record on September 10th.
• Analysts have mixed views on Occidental Petroleum, with an average rating of "Hold" and a consensus target price of $53.71, following several recent changes in target price by various research firms.

Callan Family Office LLC grew its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 26.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,413 shares of the oil and gas producer's stock after purchasing an additional 10,625 shares during the period. Callan Family Office LLC's holdings in Occidental Petroleum were worth $2,488,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Occidental Petroleum by 20.2% during the 1st 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 grew its position in shares of Occidental Petroleum by 6.6% during the 1st quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer's stock valued at $242,000 after purchasing an additional 306 shares in the last quarter. Koshinski Asset Management Inc. grew its position in shares of Occidental Petroleum by 1.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer's stock valued at $1,616,000 after purchasing an additional 309 shares in the last quarter. Seaview Investment Managers LLC grew its position in shares of Occidental Petroleum by 6.8% during the 4th quarter. Seaview Investment Managers LLC now owns 4,891 shares of the oil and gas producer's stock valued at $242,000 after purchasing an additional 310 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its position in 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 in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OXY has been the subject of several research reports. Hsbc Global Res upgraded shares of Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Wells Fargo & Company cut 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 report on Tuesday, July 15th. Stephens cut their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Susquehanna cut their target price on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.71.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $43.74 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $43.06 billion, a PE ratio of 25.88 and a beta of 0.91. The firm has a fifty day simple moving average of $43.98 and a two-hundred day simple moving average of $44.25. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $59.11.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share 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 net margin of 8.79% and a return on equity of 13.78%. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. Research analysts expect 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. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is 56.80%.

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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