Occidental Petroleum Co. (NYSE:OXY) Receives Average Rating of “Hold” from Analysts

Shares of Occidental Petroleum Co. (NYSE:OXY) have received an average recommendation of “Hold” from the twenty-one brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $61.71.

A number of research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Mizuho reduced their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Stephens upped their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Raymond James lifted their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $46.65 on Friday. The firm has a market capitalization of $43.78 billion, a P/E ratio of 12.15 and a beta of 1.57. The firm’s 50-day moving average price is $49.43 and its 200-day moving average price is $52.68. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum has a 1-year low of $45.17 and a 1-year high of $71.18.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.89%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were acquired 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 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 filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

A number of large investors have recently bought and sold shares of OXY. Fortitude Family Office LLC increased its holdings in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum during the third quarter worth about $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum in the third quarter worth about $50,000. New Wave Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Occidental Petroleum in the 4th quarter worth approximately $68,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.