Occidental Petroleum Co. (NYSE:OXY) Given Average Recommendation of “Hold” by Brokerages

Shares of Occidental Petroleum Co. (NYSE:OXY) have been given an average rating of “Hold” by the twenty-one research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $61.71.

Several brokerages recently weighed in on OXY. Citigroup lowered their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Piper Sandler decreased their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, UBS Group decreased their price target on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were bought 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 $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Occidental Petroleum

Several hedge funds have recently made changes to their positions in OXY. Fortitude Family Office LLC grew its holdings in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $27,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the third quarter worth about $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the third quarter worth about $50,000. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after buying an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.9 %

Shares of Occidental Petroleum stock opened at $46.95 on Friday. The firm has a market capitalization of $44.05 billion, a price-to-earnings ratio of 12.23 and a beta of 1.55. Occidental Petroleum has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The stock has a 50 day moving average of $49.25 and a 200 day moving average of $52.27.

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.