Occidental Petroleum (NYSE:OXY) Stock Price Down 0.7% - Here's Why

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price fell 0.7% during trading on Monday . The company traded as low as $45.94 and last traded at $46.33. 5,142,789 shares were traded during trading, a decline of 47% from the average session volume of 9,614,694 shares. The stock had previously closed at $46.65.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OXY. Citigroup lowered their price target on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 26th. UBS Group lowered their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. Susquehanna decreased their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research note on Thursday, November 14th. Scotiabank cut their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Finally, Bank of America initiated coverage on Occidental Petroleum in a report on Thursday, October 17th. They set a "neutral" rating and a $57.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $61.71.

Occidental Petroleum Price Performance

The stock has a 50 day moving average price of $49.25 and a two-hundred day moving average price of $52.27. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $44.05 billion, a price-to-earnings ratio of 12.23 and a beta of 1.55.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company's stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Czech National Bank boosted its stake in shares of Occidental Petroleum by 8.3% in the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer's stock valued at $7,069,000 after buying an additional 10,456 shares during the period. True North Advisors LLC lifted its stake in Occidental Petroleum by 44.2% in the third quarter. True North Advisors LLC now owns 6,272 shares of the oil and gas producer's stock worth $323,000 after acquiring an additional 1,923 shares during the last quarter. Royal Fund Management LLC grew its holdings in Occidental Petroleum by 124.2% during the 3rd quarter. Royal Fund Management LLC now owns 57,416 shares of the oil and gas producer's stock worth $2,959,000 after acquiring an additional 31,809 shares in the last quarter. Northstar Group Inc. increased its position in shares of Occidental Petroleum by 55.1% in the 3rd quarter. Northstar Group Inc. now owns 10,839 shares of the oil and gas producer's stock valued at $559,000 after purchasing an additional 3,852 shares during the last quarter. Finally, Peirce Capital Management LLC lifted its position in shares of Occidental Petroleum by 22.2% during the 3rd quarter. Peirce Capital Management LLC now owns 4,299 shares of the oil and gas producer's stock worth $222,000 after purchasing an additional 782 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

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.