Occidental Petroleum (NYSE:OXY) Stock Price Up 1.7%

Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shot up 1.7% during trading on Friday . The stock traded as high as $57.06 and last traded at $57.06. 3,527,331 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 8,223,104 shares. The stock had previously closed at $56.10.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Scotiabank decreased their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a "sector outperform" rating for the company in a research report on Friday, July 12th. Truist Financial decreased their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a "hold" rating for the company in a research report on Monday, August 12th. Citigroup decreased their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a "neutral" rating for the company in a research report on Friday, May 24th. Stephens reaffirmed an "overweight" rating and set a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. Finally, Wolfe Research started coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an "outperform" rating and a $81.00 price target on the stock. Ten investment 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $71.69.

Occidental Petroleum Trading Up 2.0 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The company has a market capitalization of $51.84 billion, a price-to-earnings ratio of 15.59 and a beta of 1.61. The business's 50 day simple moving average is $60.27 and its 200 day simple moving average is $62.06.

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 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. Research analysts anticipate that Occidental Petroleum Co. will post 3.7 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.54%. Occidental Petroleum's dividend payout ratio (DPR) is 24.04%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 524,340 shares of the company's stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average cost of $59.75 per share, for a total transaction of $31,329,315.00. Following the completion of the purchase, the insider now directly owns 248,542,468 shares in the company, valued at approximately $14,850,412,463. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Berkshire Hathaway Inc acquired 524,340 shares of the firm's stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average price of $59.75 per share, with a total value of $31,329,315.00. Following the completion of the acquisition, the insider now owns 248,542,468 shares in the company, valued at $14,850,412,463. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The disclosure for this sale can be found here. Insiders have bought a total of 4,656,747 shares of company stock worth $278,664,028 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Occidental Petroleum

A number of institutional investors have recently added to or reduced their stakes in OXY. abrdn plc lifted its holdings in shares of Occidental Petroleum by 69.3% in the fourth quarter. abrdn plc now owns 286,532 shares of the oil and gas producer's stock valued at $17,109,000 after purchasing an additional 117,317 shares in the last quarter. OLD National Bancorp IN lifted its holdings in shares of Occidental Petroleum by 52.1% in the fourth quarter. OLD National Bancorp IN now owns 5,991 shares of the oil and gas producer's stock valued at $358,000 after purchasing an additional 2,051 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $168,000. Carret Asset Management LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $270,000. Finally, Atria Wealth Solutions Inc. lifted its holdings in shares of Occidental Petroleum by 4.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 30,366 shares of the oil and gas producer's stock valued at $1,814,000 after purchasing an additional 1,180 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Company Profile

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.