Occidental Petroleum Co. (NYSE:OXY - Get Free Report) fell 2% during trading on Wednesday . The company traded as low as $38.99 and last traded at $39.56. 2,284,180 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 12,307,510 shares. The stock had previously closed at $40.35.
Analysts Set New Price Targets
OXY has been the subject of a number of analyst reports. Stephens lowered their price objective on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Citigroup decreased their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their target price for the company from $54.00 to $45.00 in a report on Friday, January 31st. Finally, UBS Group decreased their price target on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus price target of $54.19.
Check Out Our Latest Analysis on Occidental Petroleum
Occidental Petroleum Stock Performance
The firm has a market cap of $38.16 billion, a P/E ratio of 16.64 and a beta of 1.02. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company's 50-day moving average is $43.72 and its two-hundred day moving average is $47.62.
Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is currently 39.34%.
Insider Buying and Selling
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Occidental Petroleum
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new position in Occidental Petroleum in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $27,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $27,000. Bernard Wealth Management Corp. bought a new position in shares of Occidental Petroleum during the 4th quarter worth $32,000. Finally, Grove Bank & Trust increased its holdings in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 407 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Company Profile
(
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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