Occidental Petroleum (NYSE:OXY) Stock Price Up 0.4% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY) shot up 0.4% on Friday . The company traded as high as $50.07 and last traded at $50.00. 2,677,903 shares were traded during trading, a decline of 62% from the average session volume of 7,005,771 shares. The stock had previously closed at $49.81.

Analysts Set New Price Targets

Several brokerages have weighed in on OXY. UBS Group dropped their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Piper Sandler cut their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. TD Cowen lowered their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Raymond James raised their target price 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, Scotiabank lowered their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.10.

Occidental Petroleum Stock Up 1.0 %

The company has a market cap of $47.19 billion, a P/E ratio of 13.10 and a beta of 1.57. The firm’s 50 day moving average price is $49.46 and its two-hundred day moving average price is $54.32. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.75%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 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, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Occidental Petroleum

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC raised its position 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 valued at $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum in the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. bought a new position in shares of Occidental Petroleum during the third quarter valued at about $50,000. Strategic Financial Concepts LLC purchased a new position in Occidental Petroleum during the second quarter worth about $53,000. Finally, Exchange Traded Concepts LLC bought a new stake in Occidental Petroleum in the 3rd quarter worth about $87,000. 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.