Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) reached a new 52-week low during mid-day trading on Thursday after Susquehanna lowered their price target on the stock from $81.00 to $78.00. Susquehanna currently has a positive rating on the stock. Occidental Petroleum traded as low as $54.04 and last traded at $54.43, with a volume of 2063625 shares traded. The stock had previously closed at $54.63.
A number of other equities research analysts have also weighed in on the stock. Mizuho upped their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a "neutral" rating in a report on Wednesday, May 8th. Scotiabank lowered their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a "sector outperform" rating on the stock in a report on Friday, July 12th. UBS Group upped their target price on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Stephens restated an "overweight" rating and issued a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Finally, Wolfe Research started coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 target price on the stock. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and an average price target of $71.50.
Get Our Latest Report on OXY
Insider Activity
In related news, major shareholder Berkshire Hathaway Inc bought 765,899 shares of Occidental Petroleum stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average cost of $60.28 per share, with a total value of $46,168,391.72. Following the transaction, the insider now directly owns 252,333,913 shares of the company's stock, valued at $15,210,688,275.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares of the company's stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc acquired 765,899 shares of the business's stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average cost of $60.28 per share, with a total value of $46,168,391.72. Following the completion of the acquisition, the insider now owns 252,333,913 shares in the company, valued at approximately $15,210,688,275.64. The disclosure for this purchase can be found here. Insiders purchased 4,132,407 shares of company stock valued at $247,334,713 in the last three months. Company insiders own 0.31% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of OXY. Swedbank AB bought a new position in Occidental Petroleum in the 1st quarter valued at $12,547,000. Allspring Global Investments Holdings LLC raised its position in shares of Occidental Petroleum by 139.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer's stock valued at $5,104,000 after buying an additional 45,722 shares in the last quarter. Bridgefront Capital LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $763,000. Alberta Investment Management Corp raised its position in shares of Occidental Petroleum by 143.2% during the 4th quarter. Alberta Investment Management Corp now owns 36,475 shares of the oil and gas producer's stock valued at $2,178,000 after buying an additional 21,475 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Occidental Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 904,081 shares of the oil and gas producer's stock valued at $58,757,000 after buying an additional 8,863 shares in the last quarter. 88.70% of the stock is owned by institutional investors.
Occidental Petroleum Stock Performance
The company's 50-day moving average price is $59.36 and its two-hundred day moving average price is $61.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock has a market cap of $48.67 billion, a PE ratio of 14.82 and a beta of 1.58.
Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analysts' expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.69 EPS for the current year.
Occidental Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum's payout ratio is presently 24.04%.
About Occidental Petroleum
(
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.
Further Reading
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