Short Interest in Occidental Petroleum Co. (NYSE:OXY) Decreases By 23.4%

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 35,770,000 shares, a decline of 23.4% from the March 31st total of 46,670,000 shares. Based on an average trading volume of 13,110,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.8% of the company's shares are sold short.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded up $1.05 on Thursday, hitting $40.46. The company's stock had a trading volume of 10,661,866 shares, compared to its average volume of 10,897,678. Occidental Petroleum has a 12 month low of $34.79 and a 12 month high of $65.78. The company has a market capitalization of $38.03 billion, a price-to-earnings ratio of 16.58 and a beta of 1.02. The stock's 50-day moving average is $44.07 and its two-hundred day moving average is $47.82. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

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 for the quarter, beating 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 business had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. On average, equities research analysts forecast that Occidental Petroleum will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.37%. Occidental Petroleum's dividend payout ratio is 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company's stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently bought and sold shares of OXY. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at approximately $27,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum in the fourth quarter worth approximately $27,000. Bernard Wealth Management Corp. bought a new stake in Occidental Petroleum in the fourth quarter worth approximately $32,000. Finally, Grove Bank & Trust grew its position in Occidental Petroleum by 129.2% in the first 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 in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Occidental Petroleum from $58.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Wells Fargo & Company lowered their price objective on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Susquehanna lowered their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research 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 given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $54.19.

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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