Callan Family Office LLC Acquires New Position in Occidental Petroleum Corporation $OXY

Callan Family Office LLC acquired a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, Holdings Channel.com reports. 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 bought and sold shares of the company. OneAscent Financial Services LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter worth approximately $230,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Occidental Petroleum during the 2nd quarter valued at approximately $782,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Occidental Petroleum during the 2nd quarter valued at approximately $16,852,000. Silvant Capital Management LLC bought a new position in Occidental Petroleum during the second quarter worth $92,000. Finally, Portfolio Design Labs LLC bought a new stake in Occidental Petroleum during the second quarter valued at $1,102,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

OXY stock opened at $61.34 on Friday. 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 stock has a market capitalization of $61.32 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.80 and a beta of 0.15. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The stock’s fifty day moving average is $54.56 and its two-hundred day moving average is $55.47.

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

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s dividend payout ratio (DPR) is presently 16.10%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OXY shares. JPMorgan Chase & Co. dropped their target price on shares of Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. UBS Group decreased their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Stephens dropped their price objective on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Mizuho raised their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group decreased their target price on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.83.

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by 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.