Hahn Capital Management LLC Buys 64,597 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Hahn Capital Management LLC increased its stake in Occidental Petroleum Corporation by 55.4%, purchasing an additional 64,597 shares, bringing its total to 181,156 shares valued at approximately $7.61 million.
• Institutional investors own 88.70% of Occidental Petroleum's stock, with notable recent purchases from various funds including over $78 million acquired by Sumitomo Mitsui Trust Group Inc.
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, representing a yield of 2.2% and a payout ratio of about 56.80%.

Hahn Capital Management LLC increased its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 55.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,156 shares of the oil and gas producer's stock after purchasing an additional 64,597 shares during the period. Occidental Petroleum accounts for 3.6% of Hahn Capital Management LLC's portfolio, making the stock its 15th largest holding. Hahn Capital Management LLC's holdings in Occidental Petroleum were worth $7,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Occidental Petroleum in the 1st quarter worth approximately $1,274,000. Kestra Private Wealth Services LLC raised its position in Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock worth $843,000 after purchasing an additional 906 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock worth $78,813,000 after purchasing an additional 140,528 shares during the last quarter. swisspartners Advisors Ltd bought a new position in Occidental Petroleum in the 1st quarter worth approximately $6,006,000. Finally, Blackhawk Capital Partners LLC. bought a new position in Occidental Petroleum in the 1st quarter worth approximately $344,000. Institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company lowered 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 report on Tuesday, July 15th. Mizuho lowered their target price on shares of Occidental Petroleum from $65.00 to $58.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Scotiabank lifted their target price on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Piper Sandler lifted their target price on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Four analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $53.95.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $44.32 on Friday. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49. The firm has a market capitalization of $43.63 billion, a price-to-earnings ratio of 26.22 and a beta of 0.95. 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 firm has a fifty day moving average of $45.62 and a 200-day moving average of $43.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The firm's revenue was down 6.1% on a year-over-year basis. On average, equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. 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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