Occidental Petroleum (NYSE:OXY) Stock Price Down 3.5% - What's Next?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) dropped 3.5% during mid-day trading on Monday . The stock traded as low as $38.75 and last traded at $39.19. Approximately 6,150,743 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 10,917,568 shares. The stock had previously closed at $40.61.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup cut their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Piper Sandler decreased their price objective on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Stephens reduced their target price on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. UBS Group cut their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Susquehanna decreased their target price on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and an average price target of $54.19.

Occidental Petroleum Stock Down 3.7 %

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 $36.75 billion, a P/E ratio of 16.04 and a beta of 1.02. The stock's 50 day simple moving average is $43.72 and its two-hundred day simple moving average is $47.59.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. The firm 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, research analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.34%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Occidental Petroleum

Several large investors have recently modified their holdings of the company. Certified Advisory Corp bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $476,000. Benchmark Investment Advisors LLC bought a new stake in Occidental Petroleum during the fourth quarter valued at approximately $642,000. Fisher Asset Management LLC raised its position in 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 worth $30,320,000 after acquiring an additional 6,461 shares during the period. Sarasin & Partners LLP boosted its stake in shares of 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 worth $48,942,000 after acquiring an additional 50,983 shares during the last quarter. Finally, Rule One Partners LLC grew its position in shares of Occidental Petroleum by 18.1% during the 4th quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer's stock valued at $16,083,000 after acquiring an additional 50,000 shares during the period. Institutional investors own 88.70% of the company's stock.

About Occidental Petroleum

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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