Occidental Petroleum (NYSE:OXY) Stock Price Down 0.7% – Should You Sell?

Occidental Petroleum Co. (NYSE:OXY) shares dropped 0.7% during trading on Monday . The stock traded as low as $45.94 and last traded at $46.33. Approximately 5,142,789 shares traded hands during trading, a decline of 47% from the average daily volume of 9,614,694 shares. The stock had previously closed at $46.65.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OXY shares. Scotiabank decreased their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Stephens upped their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Bank of America started coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price for the company. Piper Sandler dropped their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, Raymond James upped their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.71.

Occidental Petroleum Stock Down 0.5 %

The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The business has a 50-day simple moving average of $49.31 and a two-hundred day simple moving average of $52.31. The stock has a market capitalization of $44.44 billion, a P/E ratio of 12.33 and a beta of 1.55.

Insider Transactions at Occidental Petroleum

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

Institutional Trading of Occidental Petroleum

Large investors have recently made changes to their positions in the business. Certified Advisory Corp acquired a new position in Occidental Petroleum during the 4th quarter worth $476,000. Rule One Partners LLC acquired a new position in shares of Occidental Petroleum during the third quarter valued at $14,199,000. Stephens Inc. AR boosted its holdings in Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after acquiring an additional 10,382 shares during the last quarter. Sarasin & Partners LLP raised its holdings in Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after purchasing an additional 50,983 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $2,509,000. Institutional investors own 88.70% of the company’s stock.

About Occidental Petroleum

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.