Occidental Petroleum (NYSE:OXY) Shares Up 1.5% – What’s Next?

Shares of Occidental Petroleum Co. (NYSE:OXY) were up 1.5% during mid-day trading on Monday . The company traded as high as $51.85 and last traded at $51.26. Approximately 4,194,179 shares traded hands during trading, a decline of 52% from the average daily volume of 8,655,966 shares. The stock had previously closed at $50.51.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. BMO Capital Markets dropped their price objective on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Truist Financial cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. Piper Sandler cut their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Wolfe Research lifted their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Stephens increased their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.10.

Occidental Petroleum Stock Up 0.5 %

The business has a 50-day moving average of $49.44 and a 200-day moving average of $54.16. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The stock has a market capitalization of $47.62 billion, a price-to-earnings ratio of 13.22 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.73%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors have recently modified their holdings of the business. Rule One Partners LLC purchased a new stake in Occidental Petroleum during the 3rd quarter worth about $14,199,000. Stephens Inc. AR grew its holdings in Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after acquiring an additional 10,382 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $2,509,000. Cerity Partners LLC raised its holdings in shares of Occidental Petroleum by 27.7% in the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after purchasing an additional 15,316 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in shares of Occidental Petroleum by 1,247.7% during the third quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer’s stock worth $2,602,000 after purchasing an additional 46,740 shares in the last quarter. Institutional investors and hedge funds 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.