Hahn Capital Management LLC Trims Stake in Occidental Petroleum Co. (NYSE:OXY)

Hahn Capital Management LLC lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 28.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,559 shares of the oil and gas producer’s stock after selling 30,734 shares during the quarter. Occidental Petroleum accounts for 2.6% of Hahn Capital Management LLC’s holdings, making the stock its 22nd largest holding. Hahn Capital Management LLC’s holdings in Occidental Petroleum were worth $3,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Ballentine Partners LLC purchased a new stake in Occidental Petroleum in the first quarter valued at $216,000. Global Assets Advisory LLC acquired a new stake in shares of Occidental Petroleum in the first quarter valued at $1,527,000. Brookstone Capital Management grew its stake in shares of Occidental Petroleum by 32.2% in the first quarter. Brookstone Capital Management now owns 16,410 shares of the oil and gas producer’s stock valued at $1,066,000 after buying an additional 3,995 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum in the first quarter valued at $274,000. Finally, Grimes & Company Inc. acquired a new stake in shares of Occidental Petroleum in the first quarter valued at $204,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.0 %

Occidental Petroleum stock opened at $51.35 on Friday. Occidental Petroleum Co. has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The company has a market capitalization of $46.50 billion, a P/E ratio of 12.65 and a beta of 1.57. The stock has a 50-day simple moving average of $53.71 and a 200-day simple moving average of $59.46.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the business earned $0.68 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Occidental Petroleum Co. will post 3.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OXY shares. Truist Financial dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Evercore ISI dropped their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Mizuho lowered their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. The Goldman Sachs Group began coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price for the company. Finally, Bank of America began coverage on Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.72.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Company 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.