Occidental Petroleum (NYSE:OXY) Shares Up 0.1%

Occidental Petroleum Co. (NYSE:OXY)’s stock price traded up 0.1% during mid-day trading on Thursday . The company traded as high as $61.51 and last traded at $61.47. 1,321,751 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 7,883,060 shares. The stock had previously closed at $61.41.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OXY. Susquehanna lifted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Wells Fargo & Company boosted their price target on shares of Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, June 21st. Morgan Stanley raised their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Eleven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $72.40.

Occidental Petroleum Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. The stock has a market capitalization of $54.51 billion, a P/E ratio of 16.80 and a beta of 1.61. The firm’s 50 day moving average price is $62.12 and its 200 day moving average price is $61.88.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter last year, the business posted $1.09 EPS. The business’s revenue was down 17.2% on a year-over-year basis. As a group, equities research analysts expect that Occidental Petroleum Co. will post 3.88 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 annualized dividend and a yield of 1.43%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 524,340 shares of the stock in a transaction on Wednesday, June 5th. The stock was acquired at an average cost of $59.75 per share, for a total transaction of $31,329,315.00. Following the completion of the acquisition, the insider now directly owns 248,542,468 shares of the company’s stock, valued at approximately $14,850,412,463. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have purchased 4,656,747 shares of company stock valued at $278,664,028. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. SeaCrest Wealth Management LLC increased its stake in shares of Occidental Petroleum by 8.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 474 shares in the last quarter. Cullen Investment Group LTD. bought a new position in Occidental Petroleum during the 4th quarter valued at approximately $1,006,000. Koshinski Asset Management Inc. raised its stake in Occidental Petroleum by 53.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after buying an additional 16,871 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Occidental Petroleum by 1,279.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock worth $13,847,000 after acquiring an additional 215,091 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew 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 worth $5,104,000 after acquiring an additional 45,722 shares during the last quarter. 88.70% of the stock is currently 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.