Occidental Petroleum (NYSE:OXY) Shares Down 0.6% – What’s Next?

Shares of Occidental Petroleum Co. (NYSE:OXY) were down 0.6% on Thursday . The stock traded as low as $52.16 and last traded at $52.40. Approximately 1,541,523 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 9,518,878 shares. The stock had previously closed at $52.70.

Analyst Ratings Changes

A number of analysts have recently weighed in on OXY shares. UBS Group reduced their price target on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Jefferies Financial Group lifted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Evercore ISI cut their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. Finally, Piper Sandler decreased their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Stock Down 0.6 %

The firm has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. The business’s fifty day moving average price is $49.67 and its two-hundred day moving average price is $53.60. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. Occidental Petroleum’s payout ratio is presently 22.92%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Occidental Petroleum

Several large investors have recently added to or reduced their stakes in the company. Gateway Advisory LLC lifted its stake in Occidental Petroleum by 3.9% during the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after purchasing an additional 184 shares during the period. Segment Wealth Management LLC boosted its stake in Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 196 shares in the last quarter. Wealth Alliance Advisory Group LLC raised its stake in Occidental Petroleum by 2.2% during the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock worth $474,000 after acquiring an additional 200 shares in the last quarter. Leavell Investment Management Inc. lifted its holdings in shares of Occidental Petroleum by 3.3% during the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 200 shares during the period. Finally, Empire Financial Management Company LLC boosted its stake in shares of Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after purchasing an additional 250 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.