Occidental Petroleum Corporation $OXY is Hahn Capital Management LLC's 10th Largest Position

Key Points

• Hahn Capital Management cut its Occidental Petroleum stake by 18.6% in the first quarter, but the stock still remains its 10th-largest holding at about 4.1% of the portfolio.
• Occidental reported better-than-expected earnings for the latest quarter, posting $1.06 EPS versus a $0.60 estimate, though revenue came in below expectations and was down 8.3% year over year.
• Analysts remain mixed on the stock, with a consensus rating of Hold and an average price target of $64.17, while the company also recently paid a quarterly dividend of $0.26 per share.

Hahn Capital Management LLC lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 18.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 99,723 shares of the oil and gas producer's stock after selling 22,731 shares during the period. Occidental Petroleum makes up about 4.1% of Hahn Capital Management LLC's investment portfolio, making the stock its 10th largest position. Hahn Capital Management LLC's holdings in Occidental Petroleum were worth $6,482,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. KBC Group NV increased its holdings in shares of Occidental Petroleum by 8.7% in the 1st quarter. KBC Group NV now owns 142,116 shares of the oil and gas producer's stock worth $9,238,000 after buying an additional 11,397 shares during the last quarter. Swiss National Bank raised its position in shares of Occidental Petroleum by 7.2% during the 1st quarter. Swiss National Bank now owns 2,168,414 shares of the oil and gas producer's stock valued at $140,947,000 after buying an additional 145,100 shares in the last quarter. Mediolanum International Funds Ltd lifted its holdings in shares of Occidental Petroleum by 4.1% in the 1st quarter. Mediolanum International Funds Ltd now owns 25,905 shares of the oil and gas producer's stock valued at $1,716,000 after acquiring an additional 1,009 shares during the last quarter. Spartan Wealth Advisory Services LLC purchased a new position in Occidental Petroleum in the first quarter worth about $781,000. Finally, Pavion Blue Capital LLC bought a new stake in Occidental Petroleum during the first quarter worth approximately $290,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Insider Buying and Selling

In related news, CEO Richard A. Jackson bought 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Raymond James Financial raised their price objective on Occidental Petroleum from $64.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Citigroup lowered their price target on Occidental Petroleum from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday. Susquehanna lifted their price objective on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a "positive" rating in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group cut their price objective on shares of Occidental Petroleum from $64.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Ten research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $64.17.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $54.89 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The stock's fifty day moving average is $54.80 and its two-hundred day moving average is $53.04. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a market capitalization of $54.60 billion, a PE ratio of 13.83 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. As a group, analysts expect that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 26.20%.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental's operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.

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