Occidental Petroleum Co. (NYSE:OXY) Receives Average Rating of "Hold" from Analysts

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) has received an average recommendation of "Hold" from the twenty-one brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $60.45.

A number of equities research analysts have weighed in on OXY shares. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Roth Capital set a $54.00 price objective on Occidental Petroleum in a research note on Thursday, January 23rd. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. Truist Financial upped their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Finally, Piper Sandler cut their price objective on Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, March 6th.

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Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by insiders.

Institutional Trading of Occidental Petroleum

A number of large investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at approximately $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $32,000. Finally, Atala Financial Inc bought a new stake in shares of Occidental Petroleum in the fourth quarter worth $40,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

OXY stock traded up $0.92 on Monday, reaching $48.84. 5,388,363 shares of the company were exchanged, compared to its average volume of 9,989,019. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum has a 12 month low of $44.70 and a 12 month high of $71.19. The stock's fifty day moving average price is $48.51 and its 200 day moving average price is $49.93. The firm has a market capitalization of $45.83 billion, a PE ratio of 20.01 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. On average, research analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.97%. Occidental Petroleum's dividend payout ratio is 39.34%.

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.