Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s stock price dropped 0.7% during mid-day trading on Friday . The stock traded as low as $49.57 and last traded at $49.97. Approximately 3,070,357 shares changed hands during trading, a decline of 67% from the average daily volume of 9,417,615 shares. The stock had previously closed at $50.34.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. Stephens increased their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Scotiabank cut their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. Finally, Piper Sandler dropped their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $62.19.
Check Out Our Latest Stock Report on OXY
Occidental Petroleum Price Performance
The firm has a market cap of $46.22 billion, a PE ratio of 12.83 and a beta of 1.57. The stock has a 50 day simple moving average of $49.70 and a two-hundred day simple moving average of $53.20. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum's payout ratio is presently 22.92%.
Insider Transactions at Occidental Petroleum
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the 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 completion of the transaction, the insider now owns 257,758,886 shares of the company's stock, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.31% of the company's stock.
Institutional Trading of Occidental Petroleum
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Segment Wealth Management LLC increased its holdings in Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer's stock worth $205,000 after acquiring an additional 196 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its position in shares of Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer's stock valued at $474,000 after purchasing an additional 200 shares during the period. Leavell Investment Management Inc. increased its stake in shares of Occidental Petroleum by 3.3% during the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer's stock worth $323,000 after purchasing an additional 200 shares in the last quarter. Empire Financial Management Company LLC lifted its stake in Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer's stock valued at $329,000 after buying an additional 250 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock worth $398,000 after buying an additional 250 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
About Occidental Petroleum
(
Get Free Report)
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.
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