Occidental Petroleum (NYSE:OXY) Trading 2.2% Higher – Still a Buy?

Occidental Petroleum Co. (NYSE:OXY)’s share price traded up 2.2% during trading on Tuesday . The stock traded as high as $47.63 and last traded at $47.37. 4,413,374 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 9,761,761 shares. The stock had previously closed at $46.37.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Susquehanna decreased their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Mizuho decreased their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. 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 research report on Thursday, December 19th. Finally, Citigroup cut their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.71.

Occidental Petroleum Trading Down 0.9 %

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 company’s 50-day moving average price is $49.25 and its 200-day moving average price is $52.27. The firm has a market cap of $44.05 billion, a price-to-earnings ratio of 12.23 and a beta of 1.55.

Insider Buying and Selling 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 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 purchase, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. H&H International Investment LLC increased its holdings 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 valued at $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Scharf Investments LLC raised its holdings in shares of Occidental Petroleum by 48.7% during the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after acquiring an additional 805,525 shares during the period. Anson Funds Management LP boosted its position in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after acquiring an additional 745,050 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Occidental Petroleum during the third quarter worth about $18,554,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.