Occidental Petroleum (NYSE:OXY) Trading 0.8% Higher - What's Next?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price traded up 0.8% on Friday . The stock traded as high as $51.84 and last traded at $51.76. 2,143,220 shares traded hands during trading, a decline of 76% from the average session volume of 9,104,054 shares. The stock had previously closed at $51.35.

Analyst Ratings Changes

Several research firms recently issued reports on OXY. Wolfe Research initiated coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 price target for the company. Barclays cut their target price on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. Mizuho dropped their price objective on Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Scotiabank cut their price target 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, Evercore ISI decreased their target price on Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating on the stock in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and a consensus target price of $65.72.

Occidental Petroleum Stock Up 0.4 %

The stock has a fifty day moving average price of $53.59 and a two-hundred day moving average price of $59.40. The company has a market cap of $46.70 billion, a price-to-earnings ratio of 12.70 and a beta of 1.57. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.26. The firm 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 business's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 3.31 EPS for the current year.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Occidental Petroleum by 16.8% during 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 buying an additional 532,318 shares during the period. Epoch Investment Partners Inc. increased its stake in shares of Occidental Petroleum by 20.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer's stock valued at $104,707,000 after acquiring an additional 277,462 shares in the last quarter. Himalaya Capital Management LLC acquired a new position in shares of Occidental Petroleum during the second quarter valued at about $92,433,000. Cooke & Bieler LP raised its stake in Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer's stock worth $91,398,000 after buying an additional 503,173 shares during the period. Finally, Clean Energy Transition LLP bought a new position in Occidental Petroleum in the first quarter worth approximately $67,601,000. 88.70% of the stock is owned by institutional investors.

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.