Traders Buy High Volume of Call Options on Occidental Petroleum (NYSE:OXY)

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) was the target of unusually large options trading on Friday. Traders bought 121,558 call options on the company. This represents an increase of 30% compared to the typical daily volume of 93,341 call options.

Occidental Petroleum Stock Performance

OXY stock traded down $0.28 during trading on Monday, reaching $46.38. The stock had a trading volume of 13,436,709 shares, compared to its average volume of 10,057,816. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock's 50 day moving average is $49.43 and its two-hundred day moving average is $52.54. The firm has a market cap of $43.52 billion, a PE ratio of 12.08 and a beta of 1.55. Occidental Petroleum has a 52 week low of $45.17 and a 52 week high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum's dividend payout ratio is presently 22.92%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OXY. The Goldman Sachs Group cut Occidental Petroleum from a "neutral" rating to a "sell" rating and cut their target price for the stock from $54.00 to $45.00 in a research note on Friday. TD Cowen lowered their target price on Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Mizuho lowered their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Susquehanna cut their price target on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a report on Thursday, November 14th. Finally, Raymond James upped their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and an average price target of $61.71.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The shares were 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 owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Occidental Petroleum

Several large investors have recently bought and sold shares of OXY. Fortitude Family Office LLC boosted its position in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the third quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators grew its holdings in Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after buying an additional 248 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth $59,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.