Callan Family Office LLC Purchases 10,625 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Callan Family Office LLC grew its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 26.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 50,413 shares of the oil and gas producer’s stock after buying an additional 10,625 shares during the quarter. Callan Family Office LLC’s holdings in Occidental Petroleum were worth $2,488,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Occidental Petroleum in the fourth quarter worth about $26,000. Bernard Wealth Management Corp. bought a new position in Occidental Petroleum in the fourth quarter worth about $32,000. Grove Bank & Trust raised its stake in Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 407 shares in the last quarter. American National Bank & Trust bought a new position in Occidental Petroleum in the first quarter worth about $39,000. Finally, Quarry LP raised its stake in Occidental Petroleum by 615.2% in the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 849 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays increased their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Stephens decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. UBS Group decreased their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.71.

Occidental Petroleum Trading Down 1.3%

NYSE:OXY opened at $43.74 on Tuesday. The company’s 50 day moving average price is $43.98 and its 200-day moving average price is $44.25. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $59.11. 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 stock has a market cap of $43.06 billion, a price-to-earnings ratio of 25.88 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The business’s revenue for the quarter 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 fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a dividend of $0.24 per share. The ex-dividend date 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 56.80%.

Occidental Petroleum Profile

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.