Occidental Petroleum (NYSE:OXY) Stock Price Down 0.3% – What’s Next?

Shares of Occidental Petroleum Co. (NYSE:OXY) traded down 0.3% during trading on Thursday . The stock traded as low as $47.17 and last traded at $47.83. 2,049,633 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 9,864,702 shares. The stock had previously closed at $47.96.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Truist Financial lifted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Mizuho decreased their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, UBS Group lifted their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $60.45.

Occidental Petroleum Price Performance

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 $44.81 billion, a price-to-earnings ratio of 19.59 and a beta of 1.51. The business’s fifty day simple moving average is $48.74 and its 200 day simple moving average is $50.12.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The shares were purchased at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OXY. Wealth Enhancement Advisory Services LLC boosted its position in shares of Occidental Petroleum by 25.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 95,888 shares of the oil and gas producer’s stock worth $4,738,000 after buying an additional 19,734 shares during the period. PKO Investment Management Joint Stock Co acquired a new position in Occidental Petroleum during the 4th quarter worth $1,144,000. Northstar Financial Companies Inc. bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $486,000. Siemens Fonds Invest GmbH grew its stake in shares of Occidental Petroleum by 30.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 43,293 shares of the oil and gas producer’s stock worth $2,139,000 after purchasing an additional 10,003 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $8,284,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.