Callan Family Office LLC Purchases Shares of 174,136 Occidental Petroleum Corporation $OXY

Callan Family Office LLC acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 174,136 shares of the oil and gas producer’s stock, valued at approximately $8,458,000.

Other large investors also recently made changes to their positions in the company. Woodline Partners LP increased its holdings in Occidental Petroleum by 40.7% in the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock valued at $2,817,000 after purchasing an additional 16,506 shares in the last quarter. Marshall Wace LLP purchased a new position in Occidental Petroleum in the second quarter valued at about $4,584,000. Federated Hermes Inc. lifted its stake in shares of Occidental Petroleum by 696.7% during the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 20,985 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Occidental Petroleum by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock worth $4,443,000 after buying an additional 7,285 shares during the period. Finally, AXA S.A. boosted its position in shares of Occidental Petroleum by 24.3% in the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after buying an additional 26,741 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the topic of several analyst reports. Evercore upgraded Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Wednesday, July 8th. Barclays lowered their price objective on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Truist Financial lifted their price objective on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Capital One Financial boosted their target price on shares of Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Finally, Morgan Stanley decreased their target price on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 26th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $64.83.

Occidental Petroleum Trading Down 0.3%

Shares of OXY opened at $61.34 on Friday. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The stock has a 50-day moving average price of $54.56 and a 200 day moving average price of $55.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The company has a market capitalization of $61.32 billion, a P/E ratio of 9.50, a P/E/G ratio of 0.80 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The company had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the business earned $0.39 EPS. Occidental Petroleum’s revenue for the quarter was up 53.4% compared to the same quarter last year. Sell-side analysts forecast that Occidental Petroleum Corporation will post 6.08 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. Occidental Petroleum’s payout ratio is presently 16.10%.

Insider Transactions at Occidental Petroleum

In related news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Occidental Petroleum Company Profile

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.