Occidental Petroleum (NYSE:OXY) Trading Down 2.4%

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares fell 2.4% during trading on Tuesday . The company traded as low as $55.38 and last traded at $55.61. 5,602,921 shares traded hands during trading, a decline of 32% from the average session volume of 8,283,405 shares. The stock had previously closed at $56.98.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OXY shares. UBS Group upped their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Truist Financial cut 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. Citigroup dropped their target price on Occidental Petroleum from $69.00 to $65.00 and set a "neutral" rating on the stock in a research report on Friday, May 24th. Wells Fargo & Company reduced their price target on Occidental Petroleum from $68.00 to $65.00 and set an "equal weight" rating for the company in a report on Friday, August 9th. Finally, Mizuho increased their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock a "neutral" rating in a report on Wednesday, May 8th. Ten research 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $71.69.

Occidental Petroleum Trading Down 2.8 %

The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $49.12 billion, a P/E ratio of 15.19 and a beta of 1.61. The business's fifty day simple moving average is $59.68 and its two-hundred day simple moving average is $62.08.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results 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. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm's revenue was up 2.2% on a year-over-year basis. As a group, analysts forecast that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum's payout ratio is 24.04%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd grew its position in shares of Occidental Petroleum by 300,000.0% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 6,002 shares of the oil and gas producer's stock worth $378,000 after buying an additional 6,000 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Occidental Petroleum in the second quarter valued at approximately $110,000. KGH Ltd acquired a new stake in Occidental Petroleum during the 2nd quarter worth $5,295,000. William B. Walkup & Associates Inc. acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $145,000. Finally, Magnolia Capital Advisors LLC bought a new position in shares of Occidental Petroleum in the 2nd quarter worth $1,939,000. Institutional investors own 88.70% of the company's stock.

About Occidental Petroleum

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.