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Investors Buy Large Volume of Occidental Petroleum Put Options (NYSE:OXY)

Occidental Petroleum logo with Oils/Energy background

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) saw some unusual options trading on Friday. Investors purchased 147,348 put options on the company. This represents an increase of approximately 59% compared to the average volume of 92,584 put options.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the purchase, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OXY. Geode Capital Management LLC grew its holdings in Occidental Petroleum by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock valued at $710,886,000 after buying an additional 444,850 shares in the last quarter. H&H International Investment LLC grew its stake in Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after acquiring an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer's stock valued at $206,560,000 after acquiring an additional 98,703 shares during the last quarter. American Century Companies Inc. lifted its stake in Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer's stock worth $233,687,000 after purchasing an additional 532,318 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Occidental Petroleum by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer's stock valued at $101,720,000 after purchasing an additional 5,200 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

Occidental Petroleum stock traded up $1.77 during trading on Friday, reaching $47.13. The company had a trading volume of 28,974,660 shares, compared to its average volume of 9,603,323. The firm's 50-day simple moving average is $50.18 and its 200 day simple moving average is $55.13. Occidental Petroleum has a 52 week low of $45.17 and a 52 week high of $71.18. 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 firm has a market capitalization of $44.22 billion, a price-to-earnings ratio of 12.27 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.87%. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.92%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OXY shares. Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a research note on Monday. Barclays decreased their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. Raymond James boosted their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a research note on Thursday, November 21st. Scotiabank lowered their target price 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, StockNews.com cut Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $62.10.

Check Out Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Company Profile

(Get Free Report)

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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