Occidental Petroleum (NYSE:OXY) Stock Price Up 2.5% - Should You Buy?

Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) traded up 2.5% during mid-day trading on Tuesday . The company traded as high as $39.82 and last traded at $40.00. 1,571,178 shares were traded during trading, a decline of 85% from the average session volume of 10,791,060 shares. The stock had previously closed at $39.02.

Wall Street Analyst Weigh In

OXY has been the topic of several research analyst reports. Scotiabank downgraded Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective on the stock. in a research report on Friday, April 11th. Truist Financial upped their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Citigroup reduced their target price on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price target for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $54.19.

Occidental Petroleum Trading Up 0.0 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm has a market cap of $37.95 billion, a PE ratio of 16.55 and a beta of 1.02. The company's 50 day moving average price is $44.74 and its 200 day moving average price is $48.11.

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

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were issued a $0.24 dividend. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.38%. Occidental Petroleum's dividend payout ratio is presently 39.34%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Occidental Petroleum

A number of large investors have recently modified their holdings of the business. Certified Advisory Corp purchased a new position in Occidental Petroleum in the fourth quarter worth $476,000. Rule One Partners LLC acquired a new stake in Occidental Petroleum in the 3rd quarter valued at about $14,199,000. Benchmark Investment Advisors LLC purchased a new position in Occidental Petroleum during the 4th quarter valued at about $642,000. Fisher Asset Management LLC grew its position in shares of Occidental Petroleum by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after purchasing an additional 6,461 shares during the last quarter. Finally, Sarasin & Partners LLP grew its holdings in Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock valued at $48,942,000 after buying an additional 50,983 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.