Callan Family Office LLC Raises Stock Position in Occidental Petroleum Corporation $OXY

Key Points

• Callan Family Office LLC significantly increased its holdings in Occidental Petroleum Corporation by 224.9% in the second quarter, now owning 163,767 shares valued at approximately $6.88 million.
• Several analysts have upgraded their ratings on Occidental Petroleum, with HSBC raising its rating from "hold" to "buy" and increasing the price target from $48.00 to $55.00.
• Occidental Petroleum declared a quarterly dividend of $0.24, which will be paid on October 15th, providing an annualized yield of 2.2%.

Callan Family Office LLC boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 224.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,767 shares of the oil and gas producer's stock after purchasing an additional 113,354 shares during the quarter. Callan Family Office LLC's holdings in Occidental Petroleum were worth $6,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust raised its position in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after purchasing an additional 407 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Occidental Petroleum in the 1st quarter valued at $39,000. Spectrum Wealth Counsel LLC raised its position in Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in Occidental Petroleum in the 1st quarter valued at $54,000. Finally, Trifecta Capital Advisors LLC raised its position in Occidental Petroleum by 4,393.9% in the 1st quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer's stock valued at $73,000 after purchasing an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

OXY has been the subject of several research reports. Bank of America upped their price target on shares of Occidental Petroleum from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Monday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Occidental Petroleum in a research report on Wednesday. Roth Capital upped their price objective on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, October 2nd. HSBC upgraded shares of Occidental Petroleum from a "hold" rating to a "buy" rating and upped their price objective for the stock from $48.00 to $55.00 in a research report on Friday, October 3rd. Finally, Hsbc Global Res upgraded shares of Occidental Petroleum from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $52.52.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $44.50 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $55.24. The stock has a market cap of $43.80 billion, a PE ratio of 26.33 and a beta of 0.95. The firm's fifty day simple moving average is $45.64 and its 200-day simple moving average is $43.74.

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 analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. Analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is presently 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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