Occidental Petroleum Co. (NYSE:OXY) Receives $61.55 Consensus PT from Analysts

Shares of Occidental Petroleum Co. (NYSE:OXY) have been assigned an average recommendation of “Hold” from the twenty-one analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $61.55.

A number of research analysts have recently issued reports on OXY shares. TD Cowen cut their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Truist Financial raised their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Piper Sandler reduced their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Finally, Stephens reaffirmed an “overweight” rating and set a $71.00 target price on shares of Occidental Petroleum in a research report on Wednesday, February 19th.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 6,854,394 shares of company stock valued at $315,101,532 over the last 90 days. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Berkshire Hathaway Inc grew its stake in shares of Occidental Petroleum by 3.5% during the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock worth $13,053,055,000 after purchasing an additional 8,896,890 shares during the period. Vanguard Group Inc. grew its position 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 buying an additional 10,434,098 shares during the period. Geode Capital Management LLC increased its holdings in 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 buying an additional 398,467 shares in the last quarter. H&H International Investment LLC raised its position 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 acquiring an additional 7,680,598 shares during the period. Finally, Northern Trust Corp boosted its stake 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 acquiring an additional 491,797 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 5.1 %

Occidental Petroleum stock opened at $46.36 on Thursday. Occidental Petroleum has a twelve month low of $45.17 and a twelve month high of $71.18. The business has a fifty day moving average of $49.43 and a two-hundred day moving average of $50.94. The firm has a market cap of $43.51 billion, a P/E ratio of 19.00 and a beta of 1.55. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping 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. On average, analysts forecast that Occidental Petroleum will post 3.58 earnings per share 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. Stockholders of record on Monday, March 10th will be issued a $0.24 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is 39.34%.

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.