Calamos Advisors LLC Has $7.84 Million Stock Position in Occidental Petroleum Corporation (NYSE:OXY)

Calamos Advisors LLC lifted its stake in Occidental Petroleum Corporation (NYSE:OXY) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,750 shares of the oil and gas producer’s stock after buying an additional 1,767 shares during the period. Calamos Advisors LLC’s holdings in Occidental Petroleum were worth $7,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OXY. Checchi Capital Advisers LLC lifted its holdings in shares of Occidental Petroleum by 24.1% during the first quarter. Checchi Capital Advisers LLC now owns 5,075 shares of the oil and gas producer’s stock valued at $251,000 after acquiring an additional 984 shares during the period. Principal Financial Group Inc. lifted its holdings in Occidental Petroleum by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 801,603 shares of the oil and gas producer’s stock valued at $39,567,000 after purchasing an additional 32,117 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Occidental Petroleum by 2.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 59,064 shares of the oil and gas producer’s stock valued at $2,915,000 after buying an additional 1,130 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Occidental Petroleum by 262.5% during the first quarter. Teacher Retirement System of Texas now owns 135,541 shares of the oil and gas producer’s stock worth $6,690,000 after buying an additional 98,148 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its holdings in shares of Occidental Petroleum by 6.8% during the first quarter. Miller Howard Investments Inc. NY now owns 84,065 shares of the oil and gas producer’s stock worth $4,149,000 after buying an additional 5,333 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

OXY has been the topic of several recent analyst reports. Barclays boosted their target price on Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Hsbc Global Res raised Occidental Petroleum to a “hold” rating in a research note on Wednesday, April 16th. Citigroup raised their target price on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, May 19th. Wells Fargo & Company lifted their price target on Occidental Petroleum from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, June 26th. Finally, Piper Sandler decreased their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.38.

Occidental Petroleum Stock Down 0.1%

Shares of Occidental Petroleum stock opened at $43.87 on Friday. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76. The business has a fifty day simple moving average of $42.54 and a 200 day simple moving average of $45.36. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The stock has a market cap of $43.17 billion, a PE ratio of 17.83 and a beta of 0.84.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. Research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.19%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.02%.

Occidental Petroleum 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.