Calamos Wealth Management LLC raised its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 57.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,020 shares of the oil and gas producer's stock after purchasing an additional 51,273 shares during the quarter. Calamos Wealth Management LLC's holdings in Occidental Petroleum were worth $8,361,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Occidental Petroleum in the third quarter valued at approximately $26,000. Orion Capital Management LLC bought a new position in shares of Occidental Petroleum in the third quarter valued at approximately $27,000. TLW Wealth Management LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $28,000. Grove Bank & Trust grew its holdings in shares of Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 240 shares in the last quarter. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $35,000. 88.70% of the stock is owned by institutional investors.
Occidental Petroleum Price Performance
Shares of OXY stock traded up $0.59 on Friday, reaching $66.63. The company's stock had a trading volume of 9,794,542 shares, compared to its average volume of 7,868,365. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The company has a market capitalization of $59.07 billion, a P/E ratio of 17.04 and a beta of 1.64. The stock's 50 day simple moving average is $63.39 and its 200-day simple moving average is $61.15.
Occidental Petroleum (NYSE:OXY - Get Free Report) 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, 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 company had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the business posted $1.61 earnings per share. The firm's revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.74 earnings per share for the current fiscal year.
Occidental Petroleum Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were given a dividend of $0.22 per share. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.32%. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.51%.
Analysts Set New Price Targets
Several research firms have recently issued reports on OXY. HSBC started coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a "hold" rating and a $65.00 target price for the company. Stephens reissued an "overweight" rating and set a $74.00 price objective on shares of Occidental Petroleum in a report on Thursday, February 15th. Truist Financial increased their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the company a "buy" rating in a report on Friday, April 5th. Mizuho increased their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Finally, Barclays started coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an "equal weight" rating and a $73.00 price objective for the company. Nine 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $72.06.
View Our Latest Report on OXY
Occidental Petroleum Profile
(
Free Report)
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.
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