Occidental Petroleum (NYSE:OXY) Stock Price Down 1.5%

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s stock price was down 1.5% during trading on Friday . The stock traded as low as $52.90 and last traded at $52.93. Approximately 4,208,090 shares were traded during trading, a decline of 50% from the average daily volume of 8,358,852 shares. The stock had previously closed at $53.74.

Analysts Set New Price Targets

Several equities research analysts recently commented on OXY shares. Citigroup dropped their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a "neutral" rating on the stock in a research note on Friday, May 24th. Wolfe Research began coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 target price for the company. Stephens reaffirmed an "overweight" rating and issued a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. UBS Group lifted 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, Susquehanna decreased their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a "positive" rating for the company in a report on Wednesday. Ten 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $71.50.

Occidental Petroleum Stock Down 3.2 %

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 cap of $47.12 billion, a P/E ratio of 14.46 and a beta of 1.58. The company's 50 day moving average price is $59.18 and its two-hundred day moving average price is $61.94.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the firm earned $0.68 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum's dividend payout ratio is presently 24.04%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 765,899 shares of the firm's stock in a transaction on Wednesday, June 12th. The shares were bought at an average price of $60.28 per share, for a total transaction of $46,168,391.72. Following the purchase, the insider now owns 252,333,913 shares in the company, valued at $15,210,688,275.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business's stock in a transaction that occurred 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 directly owns 165,681,578 shares of the company's stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 765,899 shares of the business's stock in a transaction on Wednesday, June 12th. The shares were bought at an average cost of $60.28 per share, with a total value of $46,168,391.72. Following the completion of the acquisition, the insider now owns 252,333,913 shares in the company, valued at $15,210,688,275.64. The disclosure for this purchase can be found here. Insiders have purchased 2,745,563 shares of company stock valued at $164,581,732 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $12,547,000. Allspring Global Investments Holdings LLC increased its stake in Occidental Petroleum by 139.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer's stock worth $5,104,000 after acquiring an additional 45,722 shares during the last quarter. Bridgefront Capital LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $763,000. Alberta Investment Management Corp boosted its position in shares of Occidental Petroleum by 143.2% during the 4th quarter. Alberta Investment Management Corp now owns 36,475 shares of the oil and gas producer's stock valued at $2,178,000 after acquiring an additional 21,475 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Occidental Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 904,081 shares of the oil and gas producer's stock valued at $58,757,000 after acquiring an additional 8,863 shares during the last quarter. 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.