Occidental Petroleum (NYSE:OXY) Stock Price Down 0.1% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY)’s stock price fell 0.1% on Tuesday . The company traded as low as $50.31 and last traded at $50.60. 1,697,225 shares changed hands during trading, a decline of 81% from the average session volume of 9,113,234 shares. The stock had previously closed at $50.63.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target for the company. Scotiabank decreased their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Stephens reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Finally, Wells Fargo & Company cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $65.72.

Occidental Petroleum Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The stock has a market cap of $45.35 billion, a PE ratio of 12.46 and a beta of 1.57. The company has a 50 day moving average price of $53.33 and a two-hundred day moving average price of $59.02.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. Occidental Petroleum’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. Analysts expect that Occidental Petroleum Co. will post 3.31 EPS for the current year.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by company insiders.

Institutional Trading of Occidental Petroleum

A number of large investors have recently made changes to their positions in the stock. Himalaya Capital Management LLC bought a new position in shares of Occidental Petroleum during the second quarter valued at approximately $92,433,000. Clean Energy Transition LLP purchased a new position in Occidental Petroleum during the 1st quarter worth approximately $67,601,000. Sarasin & Partners LLP acquired a new stake in Occidental Petroleum during the 2nd quarter valued at approximately $63,880,000. Scharf Investments LLC purchased a new stake in Occidental Petroleum in the second quarter valued at $42,744,000. Finally, American Century Companies Inc. lifted its holdings in shares of Occidental Petroleum by 16.8% in the 2nd 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 buying an additional 532,318 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.