Hahn Capital Management LLC Sells 50,085 Shares of Occidental Petroleum Corporation $OXY

Hahn Capital Management LLC reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 29.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,454 shares of the oil and gas producer’s stock after selling 50,085 shares during the quarter. Occidental Petroleum accounts for about 2.7% of Hahn Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Hahn Capital Management LLC’s holdings in Occidental Petroleum were worth $5,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after buying an additional 1,883,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Occidental Petroleum by 54.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock worth $162,820,000 after acquiring an additional 1,393,638 shares during the last quarter. Wellington Management Group LLP lifted its position in Occidental Petroleum by 1,029.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after acquiring an additional 1,361,541 shares in the last quarter. Invesco Ltd. boosted its stake in Occidental Petroleum by 18.9% during the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after purchasing an additional 1,071,948 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Occidental Petroleum by 134.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock valued at $85,798,000 after purchasing an additional 1,040,941 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on OXY. Jefferies Financial Group boosted their price target on Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Zacks Research upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. BMO Capital Markets boosted their target price on Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 7th. Capital One Financial upped their target price on shares of Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $63.74.

Occidental Petroleum Stock Performance

OXY stock 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. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a market cap of $51.47 billion, a P/E ratio of 13.03 and a beta of 0.14. The stock’s fifty day moving average price is $57.10 and its 200-day moving average price is $51.47.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 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 return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. On average, equities analysts forecast that Occidental Petroleum Corporation will post 5.79 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 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.