Occidental Petroleum (NYSE:OXY) Trading Down 0.4%

Occidental Petroleum Co. (NYSE:OXY) was down 0.4% during mid-day trading on Monday . The stock traded as low as $56.37 and last traded at $56.98. Approximately 9,622,300 shares were traded during trading, an increase of 16% from the average daily volume of 8,303,866 shares. The stock had previously closed at $57.21.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OXY shares. Truist Financial lowered their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Wolfe Research started coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Citigroup lowered their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. UBS Group boosted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Scotiabank reduced their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $71.69.

Occidental Petroleum Price Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock has a market cap of $49.12 billion, a price-to-earnings ratio of 15.14 and a beta of 1.61. The business’s fifty day simple moving average is $59.52 and its 200 day simple moving average is $62.05.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Research analysts predict that Occidental Petroleum Co. will post 3.69 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.59%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $59.67 per share, for a total transaction of $82,752,981.48. Following the purchase, the insider now owns 250,583,605 shares in the company, valued at approximately $14,952,323,710.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the transaction, the insider now owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 4,132,407 shares of company stock worth $247,334,713. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors have recently modified their holdings of OXY. Van ECK Associates Corp grew its position in shares of Occidental Petroleum by 18.1% during the 4th quarter. Van ECK Associates Corp now owns 27,240 shares of the oil and gas producer’s stock valued at $1,627,000 after buying an additional 4,176 shares during the last quarter. Merit Financial Group LLC grew its position in shares of Occidental Petroleum by 20.6% during the 4th quarter. Merit Financial Group LLC now owns 5,322 shares of the oil and gas producer’s stock valued at $318,000 after buying an additional 908 shares during the last quarter. M&T Bank Corp grew its position in shares of Occidental Petroleum by 0.6% during the 4th quarter. M&T Bank Corp now owns 40,486 shares of the oil and gas producer’s stock valued at $2,418,000 after buying an additional 252 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in Occidental Petroleum by 36.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 6,455 shares of the oil and gas producer’s stock worth $385,000 after purchasing an additional 1,731 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in Occidental Petroleum by 1.0% in the 4th quarter. Private Advisor Group LLC now owns 64,377 shares of the oil and gas producer’s stock worth $3,844,000 after purchasing an additional 628 shares during the last quarter. 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.