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

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

Wall Street Analyst Weigh In

OXY has been the topic of several analyst reports. Truist Financial cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler cut their price objective 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. UBS Group reduced their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Citigroup lowered their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.10.

Occidental Petroleum Trading Down 0.8 %

The company’s 50 day simple moving average is $49.47 and its two-hundred day simple moving average is $54.01. The company has a market capitalization of $48.01 billion, a price-to-earnings ratio of 13.32 and a beta of 1.57. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.72%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. H&H International Investment LLC raised 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 last quarter. Himalaya Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $92,433,000. Anson Funds Management LP raised its holdings in shares of Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares during the last quarter. American Century Companies Inc. lifted its position in Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after purchasing an additional 532,318 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 shares during the last quarter. Hedge funds and other 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.