Occidental Petroleum (NYSE:OXY) Trading 1% Higher

Occidental Petroleum Co. (NYSE:OXY)’s share price traded up 1% during trading on Thursday . The stock traded as high as $51.18 and last traded at $51.15. 2,861,208 shares were traded during mid-day trading, a decline of 66% from the average session volume of 8,501,552 shares. The stock had previously closed at $50.66.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup dropped their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Susquehanna dropped their price target on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Wolfe Research initiated coverage on Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target on the stock. Truist Financial dropped their price target on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, Stephens reissued an “overweight” rating and issued a $76.00 price target on shares of Occidental Petroleum in a research note on Thursday, August 8th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.50.

Occidental Petroleum Trading Up 0.7 %

The firm has a market capitalization of $45.23 billion, a price-to-earnings ratio of 13.98 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $58.29 and a 200-day moving average price of $61.71.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Occidental Petroleum Co. will post 3.66 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.73%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 24.04%.

Insider Buying and Selling

In other news, 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 sale, 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 SEC, which is accessible through the SEC website. In related news, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of the stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the transaction, the insider now directly owns 255,281,524 shares of the company’s stock, valued at approximately $15,253,071,059. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

A number of large investors have recently bought and sold shares of the stock. Investment Research & Advisory Group Inc. grew its holdings in shares of Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in shares of Occidental Petroleum during the first quarter worth $34,000. Able Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $38,000. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum during the first quarter worth $44,000. Finally, LRI Investments LLC bought a new stake in shares of Occidental Petroleum during the first quarter worth $44,000. 88.70% of the stock is currently owned by institutional investors.

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.