Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s stock price shot up 1.2% during trading on Monday . The company traded as high as $58.44 and last traded at $57.90. 3,896,119 shares were traded during trading, a decline of 53% from the average session volume of 8,249,094 shares. The stock had previously closed at $57.24.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Citigroup decreased their target price 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. Truist Financial dropped their price objective on Occidental Petroleum from $67.00 to $65.00 and set a "hold" rating for the company in a report on Monday, August 12th. Stephens restated an "overweight" rating and set a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. UBS Group increased 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. Finally, Mizuho raised their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company a "neutral" rating in a report on Wednesday, May 8th. Ten research analysts have rated the stock with a hold rating, five have issued 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 a consensus rating of "Hold" and an average price target of $71.69.
Get Our Latest Research Report on Occidental Petroleum
Occidental Petroleum Stock Performance
The firm has a market cap of $50.87 billion, a PE ratio of 15.68 and a beta of 1.61. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The company has a 50-day simple moving average of $60.17 and a two-hundred day simple moving average of $62.12.
Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The business 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%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.7 earnings per share 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 given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.53%. Occidental Petroleum's dividend payout ratio is presently 24.04%.
Insider Buying and Selling
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of the stock in a transaction dated Monday, June 17th. The shares were bought at an average price of $59.75 per share, with a total value of $19,984,044.75. Following the completion of the transaction, the insider now directly owns 255,281,524 shares in the company, valued at approximately $15,253,071,059. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 165,681,578 shares of the company's stock, valued at $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of Occidental Petroleum stock in a transaction dated Monday, June 17th. The shares were purchased at an average price of $59.75 per share, with a total value of $19,984,044.75. Following the completion of the transaction, the insider now directly owns 255,281,524 shares in the company, valued at $15,253,071,059. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is owned by insiders.
Institutional Investors Weigh In On Occidental Petroleum
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Investment Research & Advisory Group Inc. grew its holdings in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 167 shares during the last quarter. LifeSteps Financial Inc. purchased a new stake in Occidental Petroleum during the 1st quarter valued at about $34,000. Able Wealth Management LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $38,000. New Covenant Trust Company N.A. bought a new position in shares of Occidental Petroleum in the first quarter worth approximately $44,000. Finally, LRI Investments LLC purchased a new position in shares of Occidental Petroleum in the first quarter valued at about $44,000. 88.70% of the stock is owned by hedge funds and other institutional investors.
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.
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