Occidental Petroleum (NYSE:OXY) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Occidental Petroleum (NYSE:OXY) from a hold rating to a sell rating in a report issued on Saturday.

OXY has been the topic of several other research reports. BMO Capital Markets lowered their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Susquehanna decreased their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Piper Sandler dropped 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. Stephens lifted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Barclays dropped their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.10.

Occidental Petroleum Stock Down 0.2 %

Shares of NYSE:OXY opened at $48.46 on Friday. The company has a market capitalization of $45.47 billion, a PE ratio of 12.62 and a beta of 1.57. Occidental Petroleum has a 1 year low of $45.17 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The business has a fifty day moving average price of $49.58 and a two-hundred day moving average price of $54.46.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds have recently made changes to their positions in the business. H&H International Investment LLC lifted its stake in 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 bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $92,433,000. Anson Funds Management LP boosted its holdings in 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 period. American Century Companies Inc. lifted its position in Occidental Petroleum by 16.8% in 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 last quarter. Finally, Cooke & Bieler LP boosted its stake in shares of Occidental Petroleum by 53.1% during the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after purchasing an additional 503,173 shares during the period. 88.70% of the stock is currently owned by 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.