Occidental Petroleum (NYSE:OXY) Stock Price Up 0.2% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY)’s stock price traded up 0.2% during trading on Wednesday . The stock traded as high as $50.55 and last traded at $50.63. 3,307,060 shares changed hands during trading, a decline of 65% from the average session volume of 9,564,789 shares. The stock had previously closed at $50.55.

Analyst Ratings Changes

Several analysts have issued reports on OXY shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. Mizuho dropped their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wolfe Research lifted their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Piper Sandler decreased their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Finally, BMO Capital Markets dropped their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Trading Down 2.1 %

The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm has a market cap of $46.22 billion, a PE ratio of 12.83 and a beta of 1.57. The firm has a fifty day simple moving average of $49.70 and a two-hundred day simple moving average of $53.20.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after acquiring an additional 444,850 shares in the last quarter. H&H International Investment LLC boosted its position in shares of Occidental Petroleum by 497.7% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after buying an additional 98,703 shares during the last quarter. Scharf Investments LLC increased its position in 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 valued at $121,600,000 after buying an additional 805,525 shares in the last quarter. Finally, Swiss National Bank raised its stake in Occidental Petroleum by 0.3% during the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after buying an additional 5,200 shares during the last quarter. 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.