Calamos Advisors LLC Has $16.29 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Calamos Advisors LLC lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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.

A number of other hedge funds have also recently added to or reduced their stakes in OXY. Moneta Group Investment Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $267,173,000. Bank of New York Mellon Corp raised its stake in shares of Occidental Petroleum by 24.1% during the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock valued at $779,983,000 after acquiring an additional 2,334,651 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Occidental Petroleum by 600.4% during the third quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock valued at $145,520,000 after acquiring an additional 1,922,656 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Occidental Petroleum by 87.9% during the first quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock valued at $185,885,000 after acquiring an additional 1,532,100 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Occidental Petroleum by 22.2% during the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after acquiring an additional 1,088,052 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the subject of several analyst reports. Stephens reaffirmed an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a research note on Thursday, February 15th. Wells Fargo & Company raised their price target on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Raymond James lowered their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. HSBC assumed coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Finally, Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.06.

Occidental Petroleum Stock Up 1.8 %

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

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business’s revenue was down 9.6% on a year-over-year basis. During the same period last year, the company earned $1.61 earnings per share. On average, analysts expect that Occidental Petroleum Co. will post 3.74 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.31%. Occidental Petroleum’s payout ratio is 22.51%.

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.