Occidental Petroleum (NYSE:OXY) Shares Down 0.6% – Time to Sell?

Occidental Petroleum Co. (NYSE:OXY)’s share price traded down 0.6% during trading on Monday . The stock traded as low as $51.77 and last traded at $51.98. 7,831,562 shares traded hands during trading, a decline of 29% from the average session volume of 11,086,349 shares. The stock had previously closed at $52.30.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Susquehanna cut their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. BMO Capital Markets lowered their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Piper Sandler decreased their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Barclays decreased their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Wells Fargo & Company cut their price objective on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Trading Down 2.7 %

The company has a 50 day moving average price of $49.72 and a 200 day moving average price of $53.32. The firm has a market cap of $47.46 billion, a price-to-earnings ratio of 13.17 and a beta of 1.57. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.74%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now directly owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Fortitude Family Office LLC grew its stake in shares of 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 purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum during the third quarter worth $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the third quarter worth $50,000. Westside Investment Management Inc. raised its holdings in shares of Occidental Petroleum by 224.0% in the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock worth $77,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Occidental Petroleum in the third quarter valued at $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.