Occidental Petroleum (NYSE:OXY) Stock Price Up 2.2% – What’s Next?

Shares of Occidental Petroleum Co. (NYSE:OXY) shot 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 firms recently weighed in on OXY. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Jefferies Financial Group raised their target price on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Raymond James boosted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Mizuho lowered 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. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.71.

Occidental Petroleum Price Performance

The company has a fifty day moving average price of $49.25 and a two-hundred day moving average price of $52.27. The firm has a market capitalization of $44.05 billion, a price-to-earnings ratio of 12.23 and a beta of 1.55. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Insiders Place Their Bets

In related 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 acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum in the third quarter valued at $32,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $50,000. Finally, Deseret Mutual Benefit Administrators grew its stake in Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after acquiring an additional 248 shares during the last quarter. 88.70% of the stock is currently 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.