Occidental Petroleum (NYSE:OXY) Stock Price Up 0.8%

Shares of Occidental Petroleum Co. (NYSE:OXY) rose 0.8% during mid-day trading on Monday . The stock traded as high as $61.80 and last traded at $61.71. Approximately 2,018,564 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 7,847,161 shares. The stock had previously closed at $61.20.

Wall Street Analyst Weigh In

OXY has been the topic of several recent research reports. Truist Financial cut Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their price target for the company from $84.00 to $69.00 in a research report on Thursday, May 16th. Barclays started coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price on the stock. Susquehanna boosted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Morgan Stanley boosted their target price on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Scotiabank dropped their target price on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $71.87.

Occidental Petroleum Trading Up 2.1 %

The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average of $61.99 and a 200-day moving average of $61.89. The stock has a market cap of $55.42 billion, a PE ratio of 16.86 and a beta of 1.61.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. Occidental Petroleum’s revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. On average, analysts anticipate that Occidental Petroleum Co. will post 3.9 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.41%. Occidental Petroleum’s payout ratio is 24.04%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average cost of $59.67 per share, for a total transaction of $82,752,981.48. Following the acquisition, the insider now owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 4,656,747 shares of company stock worth $278,664,028 in the last ninety days. Insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Several large investors have recently added to or reduced their stakes in OXY. Berkshire Hathaway Inc boosted its position in Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after buying an additional 19,586,612 shares during the last quarter. Pacer Advisors Inc. boosted its position in Occidental Petroleum by 22.2% in the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after buying an additional 1,088,052 shares during the last quarter. Clean Energy Transition LLP purchased a new position in Occidental Petroleum in the 1st quarter valued at about $67,601,000. ANTIPODES PARTNERS Ltd boosted its position in Occidental Petroleum by 51.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after buying an additional 797,894 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Occidental Petroleum by 237.9% in the 4th quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock valued at $45,192,000 after buying an additional 532,847 shares during the last quarter. 88.70% of the stock is currently 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.