Calamos Wealth Management LLC Buys 3,655 Shares of Occidental Petroleum Co. (NYSE:OXY)

Calamos Wealth Management LLC boosted its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 146,827 shares of the oil and gas producer’s stock after buying an additional 3,655 shares during the quarter. Calamos Wealth Management LLC’s holdings in Occidental Petroleum were worth $9,255,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Berkshire Hathaway Inc raised its stake in shares of Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after purchasing an additional 19,586,612 shares during the period. Clean Energy Transition LLP bought a new position in shares of Occidental Petroleum during the 1st quarter valued at approximately $67,601,000. Sarasin & Partners LLP purchased a new stake in shares of Occidental Petroleum during the 2nd quarter worth approximately $63,880,000. Scharf Investments LLC purchased a new position in Occidental Petroleum in the second quarter valued at approximately $42,744,000. Finally, TD Asset Management Inc grew its holdings in Occidental Petroleum by 237.9% during the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock valued at $45,192,000 after purchasing an additional 532,847 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Berkshire Hathaway Inc bought 1,060,653 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $59.59 per share, for a total transaction of $63,204,312.27. Following the completion of the purchase, the insider now owns 254,947,063 shares in the company, valued at approximately $15,192,295,484.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The disclosure for this sale can be found here. Insiders have acquired 4,656,747 shares of company stock valued at $278,664,028 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Up 2.0 %

Shares of NYSE:OXY traded up $1.14 during trading on Friday, reaching $57.24. 12,116,798 shares of the company traded hands, compared to its average volume of 8,275,702. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a 52-week low of $55.04 and a 52-week high of $71.18. The business’s fifty day moving average is $60.22 and its 200-day moving average is $62.10. The firm has a market capitalization of $50.75 billion, a price-to-earnings ratio of 15.64 and a beta of 1.61.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 EPS. As a group, analysts forecast that Occidental Petroleum Co. will post 3.7 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.54%. Occidental Petroleum’s payout ratio is 24.04%.

Analyst Upgrades and Downgrades

OXY has been the subject of several recent research reports. Truist Financial decreased their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a report on Monday, August 12th. Wells Fargo & Company lowered their target price on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Wolfe Research initiated coverage on Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Finally, UBS Group increased their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $71.69.

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.