Occidental Petroleum (NYSE:OXY) Shares Up 1% – Still a Buy?

Occidental Petroleum Co. (NYSE:OXY) traded up 1% during mid-day trading on Friday . The stock traded as high as $49.09 and last traded at $48.34. 3,527,537 shares were traded during trading, a decline of 63% from the average session volume of 9,591,286 shares. The stock had previously closed at $47.88.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stephens upped their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Bank of America started coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target on the stock. Mizuho reduced their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company reduced their price objective on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Finally, Wolfe Research lifted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.71.

Occidental Petroleum Stock Up 0.7 %

The company has a fifty day moving average price of $48.99 and a 200 day moving average price of $51.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The company has a market cap of $45.23 billion, a PE ratio of 12.55 and a beta of 1.55.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum 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 stock was bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders bought 6,854,394 shares of company stock worth $315,101,532. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Occidental Petroleum

Several large investors have recently modified their holdings of OXY. Cheviot Value Management LLC raised its holdings in shares of Occidental Petroleum by 23.0% during the fourth quarter. Cheviot Value Management LLC now owns 84,003 shares of the oil and gas producer’s stock valued at $4,151,000 after purchasing an additional 15,688 shares during the last quarter. Two Sigma Securities LLC boosted its stake in shares of Occidental Petroleum by 106.8% during the 4th quarter. Two Sigma Securities LLC now owns 5,853 shares of the oil and gas producer’s stock worth $289,000 after acquiring an additional 92,221 shares during the last quarter. Hancock Whitney Corp increased its position in Occidental Petroleum by 7.9% in the fourth quarter. Hancock Whitney Corp now owns 9,397 shares of the oil and gas producer’s stock worth $464,000 after buying an additional 686 shares in the last quarter. Syon Capital LLC raised its stake in shares of Occidental Petroleum by 10.9% in the fourth quarter. Syon Capital LLC now owns 29,513 shares of the oil and gas producer’s stock worth $1,458,000 after buying an additional 2,902 shares during the period. Finally, MGO One Seven LLC lifted its holdings in Occidental Petroleum by 53.7% during the fourth quarter. MGO One Seven LLC now owns 21,649 shares of the oil and gas producer’s stock valued at $1,070,000 after purchasing an additional 7,567 shares in the last quarter. Hedge funds and other 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.