Occidental Petroleum (NYSE:OXY) Trading Up 1% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY) was up 1% during trading on Tuesday . The stock traded as high as $48.44 and last traded at $48.32. Approximately 2,675,957 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 9,602,816 shares. The stock had previously closed at $47.84.

Analyst Upgrades and Downgrades

OXY has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. BMO Capital Markets lowered their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Citigroup cut their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Scotiabank lowered their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler cut their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.10.

Occidental Petroleum Trading Up 0.6 %

The business’s 50-day moving average price is $49.78 and its 200-day moving average price is $54.75. The firm has a market capitalization of $45.15 billion, a PE ratio of 12.53 and a beta of 1.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.83%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Occidental Petroleum

Hedge funds and other institutional investors have recently made changes to their positions in the company. H&H International Investment LLC lifted its position in Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the period. Himalaya Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $92,433,000. Anson Funds Management LP raised its position in Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after acquiring an additional 745,050 shares in the last quarter. American Century Companies Inc. lifted its holdings in Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after acquiring an additional 532,318 shares during the period. Finally, Cooke & Bieler LP boosted its position in shares of Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after purchasing an additional 503,173 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.