Occidental Petroleum (NYSE:OXY) Stock Price Down 1% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY)’s stock price was down 1% during trading on Wednesday . The stock traded as low as $50.64 and last traded at $51.01. Approximately 2,512,190 shares changed hands during trading, a decline of 72% from the average daily volume of 8,953,729 shares. The stock had previously closed at $51.55.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Scotiabank dropped their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Mizuho dropped their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Barclays dropped their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Raymond James upped their price target on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Finally, Evercore ISI reduced their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $62.10.

Occidental Petroleum Trading Up 0.3 %

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’s 50 day moving average is $49.51 and its two-hundred day moving average is $53.97. The firm has a market cap of $48.18 billion, a P/E ratio of 13.37 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is presently 22.92%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Hedge funds have recently modified their holdings of the company. Gateway Advisory LLC grew its stake in shares of Occidental Petroleum by 3.9% during the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock valued at $306,000 after purchasing an additional 184 shares during the last quarter. Segment Wealth Management LLC boosted its stake in Occidental Petroleum by 5.2% in the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after acquiring an additional 196 shares during the last quarter. Wealth Alliance Advisory Group LLC boosted its stake in Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after acquiring an additional 200 shares during the last quarter. Leavell Investment Management Inc. boosted its stake in Occidental Petroleum by 3.3% in the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 200 shares during the last quarter. Finally, Empire Financial Management Company LLC boosted its stake in Occidental Petroleum by 4.1% in the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.