Occidental Petroleum (NYSE:OXY) Shares Up 1.2% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY)’s share price traded up 1.2% during trading on Monday . The stock traded as high as $47.60 and last traded at $47.55. 3,760,622 shares were traded during trading, a decline of 66% from the average session volume of 11,164,881 shares. The stock had previously closed at $47.00.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OXY. Citigroup decreased 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. Raymond James cut Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $81.00 to $64.00 in a research note on Monday. Truist Financial upped their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.86.

Occidental Petroleum Trading Up 0.7 %

The business’s 50-day simple moving average is $49.27 and its 200-day simple moving average is $50.64. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $44.44 billion, a PE ratio of 19.41 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. As a group, analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.03%. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders acquired 6,854,394 shares of company stock valued at $315,101,532 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc lifted its stake in shares of Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock worth $13,053,055,000 after buying an additional 8,896,890 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock valued at $3,365,992,000 after acquiring an additional 10,434,098 shares during the period. Geode Capital Management LLC grew its position in shares of Occidental Petroleum by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer’s stock valued at $701,816,000 after purchasing an additional 398,467 shares during the last quarter. H&H International Investment LLC increased its stake in shares of 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 worth $475,389,000 after purchasing an additional 7,680,598 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Occidental Petroleum by 7.5% during the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer’s stock worth $349,085,000 after purchasing an additional 491,797 shares during the last quarter. 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.