Occidental Petroleum (NYSE:OXY) Shares Down 0.8% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY)’s stock price was down 0.8% on Thursday . The stock traded as low as $50.60 and last traded at $51.16. Approximately 7,451,603 shares traded hands during trading, a decline of 25% from the average daily volume of 9,978,206 shares. The stock had previously closed at $51.55.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OXY. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Sunday, January 5th. Barclays cut their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Stephens increased their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. Finally, Susquehanna decreased their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. One research 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, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $62.10.

Occidental Petroleum Stock Performance

The stock has a market cap of $48.18 billion, a price-to-earnings ratio of 13.37 and a beta of 1.57. The company’s fifty day simple moving average is $49.54 and its two-hundred day simple moving average is $53.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.71%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors have recently modified their holdings of the business. H&H International Investment LLC raised its position in Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after acquiring an additional 7,680,598 shares during the period. Himalaya Capital Management LLC purchased a new position in Occidental Petroleum in the second quarter valued at approximately $92,433,000. Anson Funds Management LP grew its holdings in Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after purchasing an additional 745,050 shares during the period. American Century Companies Inc. increased its position in Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Occidental Petroleum by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after buying an additional 444,850 shares during the last quarter. 88.70% of the stock is owned by 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.