Occidental Petroleum (NYSE:OXY) Shares Down 0.5% – Here’s Why

by · The Markets Daily

Occidental Petroleum Co. (NYSE:OXY – Get Free Report)’s stock price was down 0.5% during trading on Friday . The company traded as low as $51.86 and last traded at $52.04. Approximately 2,456,293 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 9,269,034 shares. The stock had previously closed at $52.30.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OXY shares. TD Cowen decreased their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wolfe Research upped their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Scotiabank cut their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Bank of America began 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 for the company. Finally, UBS Group cut their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.19.

Get Our Latest Analysis on Occidental Petroleum

Occidental Petroleum Trading Down 0.8 %

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 company has a market capitalization of $48.69 billion, a PE ratio of 13.51 and a beta of 1.57. The stock has a fifty day moving average of $49.65 and a 200 day moving average of $53.61.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.70%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the acquisition, the insider now directly owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds have recently bought and sold shares of OXY. H&H International Investment LLC increased its position in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC bought a new position in Occidental Petroleum during the second quarter valued at $92,433,000. Anson Funds Management LP raised its stake in shares of Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after acquiring an additional 745,050 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after acquiring an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Occidental Petroleum during the 3rd quarter valued at about $18,554,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

(Get Free Report)

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.

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