Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 272,729 shares of the oil and gas producer’s stock after selling 969 shares during the period. Calamos Advisors LLC’s holdings in Occidental Petroleum were worth $16,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Occidental Petroleum in the 3rd quarter valued at $26,000. Orion Capital Management LLC purchased a new position in Occidental Petroleum in the 3rd quarter valued at $27,000. TLW Wealth Management LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter worth $28,000. Grove Bank & Trust raised its holdings in shares of Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on OXY. Truist Financial lifted their price target on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Morgan Stanley lifted their price target on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Mizuho lifted their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. HSBC initiated coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective on the stock. Finally, Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

Occidental Petroleum Stock Up 1.8 %

Shares of Occidental Petroleum stock traded up $1.17 on Friday, reaching $67.21. 2,166,038 shares of the company were exchanged, compared to its average volume of 8,702,969. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a market cap of $59.58 billion, a P/E ratio of 16.89 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The stock’s 50 day moving average price is $63.21 and its 200-day moving average price is $61.13.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.74 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. Occidental Petroleum’s payout ratio is currently 22.51%.

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.