Occidental Petroleum (NYSE:OXY) Trading Up 0.3%

Shares of Occidental Petroleum Co. (NYSE:OXY) rose 0.3% during trading on Thursday . The company traded as high as $56.49 and last traded at $56.19. Approximately 2,497,803 shares traded hands during trading, a decline of 70% from the average daily volume of 8,213,946 shares. The stock had previously closed at $56.02.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OXY shares. UBS Group lifted their target price on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday. Truist Financial lowered their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Stephens restated an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Wells Fargo & Company lowered their price target on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, Wolfe Research began coverage on Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.69.

Occidental Petroleum Stock Up 2.0 %

The stock has a market cap of $51.84 billion, a price-to-earnings ratio of 15.64 and a beta of 1.61. The business has a fifty day moving average of $60.22 and a 200 day moving average of $62.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. On average, equities analysts predict that Occidental Petroleum Co. will post 3.7 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.54%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the stock in a transaction on Friday, June 7th. The shares were bought at an average price of $59.67 per share, for a total transaction of $82,752,981.48. Following the completion of the acquisition, the insider now directly owns 250,583,605 shares in the company, valued at approximately $14,952,323,710.35. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $59.67 per share, for a total transaction of $82,752,981.48. Following the acquisition, the insider now directly 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 ninety days, insiders have purchased 4,656,747 shares of company stock valued at $278,664,028. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

Several hedge funds have recently modified their holdings of the business. Swedbank AB bought a new stake in Occidental Petroleum in the 1st quarter valued at $12,547,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Occidental Petroleum by 139.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock valued at $5,104,000 after buying an additional 45,722 shares during the period. Bridgefront Capital LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $763,000. Alberta Investment Management Corp increased its stake in Occidental Petroleum by 143.2% during the fourth quarter. Alberta Investment Management Corp now owns 36,475 shares of the oil and gas producer’s stock valued at $2,178,000 after acquiring an additional 21,475 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Occidental Petroleum by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 904,081 shares of the oil and gas producer’s stock valued at $58,757,000 after acquiring an additional 8,863 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

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.