Occidental Petroleum (NYSE:OXY) Trading Down 0.4%

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) traded down 0.4% during mid-day trading on Monday . The stock traded as low as $56.37 and last traded at $56.98. 9,622,300 shares were traded during mid-day trading, an increase of 16% from the average session volume of 8,303,866 shares. The stock had previously closed at $57.21.

Analyst Ratings Changes

Several research analysts have commented on OXY shares. Wells Fargo & Company cut their price objective on Occidental Petroleum from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Friday, August 9th. Truist Financial reduced their price target on Occidental Petroleum from $67.00 to $65.00 and set a "hold" rating on the stock in a research report on Monday, August 12th. Wolfe Research assumed coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 price objective for the company. Stephens restated an "overweight" rating and issued a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Finally, Mizuho lifted their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 8th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and an average target price of $71.69.

Occidental Petroleum Stock Performance

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 fifty day moving average of $59.68 and a two-hundred day moving average of $62.08. The stock has a market capitalization of $50.52 billion, a P/E ratio of 15.57 and a beta of 1.61.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating 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 return on equity of 17.91% and a net margin of 16.62%. The business's revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.69 EPS for the current year.

Occidental Petroleum Announces Dividend

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

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of the company's stock in a transaction dated Monday, June 17th. The shares were acquired at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the transaction, the insider now owns 255,281,524 shares of the company's stock, valued at $15,253,071,059. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of Occidental Petroleum stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $59.75 per share, with a total value of $19,984,044.75. Following the completion of the acquisition, the insider now owns 255,281,524 shares in the company, valued at approximately $15,253,071,059. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the 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 completion of 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 acquired a total of 4,656,747 shares of company stock valued at $278,664,028 in the last quarter. Insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OXY. Gordian Capital Singapore Pte Ltd grew its position in Occidental Petroleum by 300,000.0% in the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 6,002 shares of the oil and gas producer's stock valued at $378,000 after buying an additional 6,000 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Occidental Petroleum in the second quarter valued at approximately $110,000. KGH Ltd acquired a new position in shares of Occidental Petroleum during the second quarter valued at approximately $5,295,000. William B. Walkup & Associates Inc. bought a new stake in Occidental Petroleum during the second quarter worth approximately $145,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in Occidental Petroleum in the second quarter worth approximately $1,939,000. 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.