Occidental Petroleum (NYSE:OXY) Trading Up 0% – Here’s Why

Occidental Petroleum Co. (NYSE:OXY) rose 0% during trading on Wednesday . The company traded as high as $49.02 and last traded at $48.91. Approximately 1,894,384 shares were traded during trading, a decline of 82% from the average daily volume of 10,534,368 shares. The stock had previously closed at $48.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho cut their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Citigroup dropped their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. TD Cowen lowered their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Wolfe Research upped their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group increased their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.55.

Occidental Petroleum Trading Down 0.4 %

The stock has a 50-day moving average price of $49.31 and a 200-day moving average price of $51.21. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The stock has a market cap of $45.68 billion, a P/E ratio of 19.96 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. On average, equities research analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have purchased 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC increased its stake in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new position in Occidental Petroleum in the 4th quarter valued at approximately $27,000. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth $27,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth $32,000. Institutional investors own 88.70% of the company’s stock.

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.