Hahn Capital Management LLC Decreases Stock Holdings in Occidental Petroleum Corporation $OXY

Hahn Capital Management LLC trimmed its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 29.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,454 shares of the oil and gas producer’s stock after selling 50,085 shares during the period. Occidental Petroleum comprises 2.7% of Hahn Capital Management LLC’s portfolio, making the stock its 18th largest position. Hahn Capital Management LLC’s holdings in Occidental Petroleum were worth $5,035,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Caitlin John LLC bought a new position in Occidental Petroleum during the 4th quarter valued at approximately $29,000. Activest Wealth Management raised its holdings in shares of Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares in the last quarter. Rossby Financial LCC lifted its stake in Occidental Petroleum by 155.0% in the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 465 shares during the period. Binnacle Investments Inc purchased a new stake in Occidental Petroleum in the third quarter worth $35,000. Finally, McMillan Office Inc. bought a new stake in Occidental Petroleum in the fourth quarter valued at $35,000. 88.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OXY shares. Capital One Financial upped their price objective on shares of Occidental Petroleum from $67.00 to $70.00 in a report on Wednesday, May 27th. TD Cowen boosted their price target on shares of Occidental Petroleum from $48.00 to $54.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Mizuho increased their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Piper Sandler raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $54.00 to $66.00 in a research report on Thursday, March 12th. Finally, Wells Fargo & Company upped their target price on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.74.

Occidental Petroleum Stock Down 2.4%

NYSE:OXY opened at $51.75 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The firm’s 50-day moving average price is $57.10 and its 200-day moving average price is $51.47. The company has a market capitalization of $51.47 billion, a PE ratio of 13.03 and a beta of 0.14. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. Occidental Petroleum’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the company posted $0.14 EPS. On average, equities analysts predict that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s 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.