Occidental Petroleum (NYSE:OXY) Stock Price Down 3.2% - What's Next?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares dropped 3.2% during trading on Wednesday . The stock traded as low as $45.07 and last traded at $45.06. Approximately 5,340,328 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 11,035,493 shares. The stock had previously closed at $46.53.

Analyst Ratings Changes

OXY has been the topic of several recent research reports. Truist Financial lifted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Monday, January 13th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and lowered their price target for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Jefferies Financial Group lifted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Citigroup lowered their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 26th. Finally, Mizuho lowered their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a research note on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus price target of $61.50.

Occidental Petroleum Stock Up 3.4 %

The firm has a market cap of $44.35 billion, a P/E ratio of 19.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm's fifty day moving average is $49.27 and its 200 day moving average is $50.68.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.03%. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's payout ratio is currently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the business's stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, the insider now directly owns 264,178,414 shares of the company's stock, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 6,854,394 shares of company stock valued at $315,101,532 in the last quarter. Company insiders own 0.31% of the company's stock.

Institutional Trading of Occidental Petroleum

Institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new stake in Occidental Petroleum in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $27,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $32,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $32,000. 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.