Callahan Advisors LLC Buys New Stake in Occidental Petroleum Co. (NYSE:OXY)

Callahan Advisors LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, HoldingsChannel reports. The fund purchased 8,100 shares of the oil and gas producer’s stock, valued at approximately $400,000.

Several other hedge funds also recently added to or reduced their stakes in OXY. Segment Wealth Management LLC grew its stake in shares of Occidental Petroleum by 5.2% in the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 196 shares in the last quarter. Leavell Investment Management Inc. grew its position in Occidental Petroleum by 3.3% in the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 200 shares in the last quarter. Empire Financial Management Company LLC raised its stake in shares of Occidental Petroleum by 4.1% during the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after purchasing an additional 250 shares during the period. Park Avenue Securities LLC lifted its position in shares of Occidental Petroleum by 3.2% during the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after purchasing an additional 250 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Occidental Petroleum by 0.9% in the third quarter. Crossmark Global Holdings Inc. now owns 27,566 shares of the oil and gas producer’s stock valued at $1,421,000 after purchasing an additional 257 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on OXY. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Wells Fargo & Company cut their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Susquehanna lowered their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. TD Cowen cut their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, UBS Group decreased their price target on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $61.71.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $48.98 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm’s 50-day moving average price is $49.01 and its two-hundred day moving average price is $51.45. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The stock has a market capitalization of $45.96 billion, a P/E ratio of 12.75 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 15.89% and a return on equity of 15.98%. As a group, sell-side analysts forecast that Occidental Petroleum Co. will post 3.34 earnings per share for the current year.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 6,854,394 shares of company stock valued at $315,101,532 over the last quarter. Insiders own 0.48% of the company’s stock.

About Occidental Petroleum

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.