Barclays Has Lowered Expectations for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY - Free Report) had its price target lowered by Barclays from $58.00 to $46.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the oil and gas producer's stock.

Several other brokerages also recently commented on OXY. JPMorgan Chase & Co. dropped their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. UBS Group cut their price objective on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Raymond James lowered Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $81.00 to $64.00 in a report on Monday, March 10th. Wells Fargo & Company cut their price target on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Truist Financial raised their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $54.19.

Occidental Petroleum Stock Down 0.0 %

NYSE OXY traded down $0.02 during trading on Wednesday, hitting $40.36. 4,148,035 shares of the company traded hands, compared to its average volume of 10,837,986. Occidental Petroleum has a 12 month low of $34.79 and a 12 month high of $68.43. The business has a fifty day simple moving average of $44.91 and a 200 day simple moving average of $48.21. The company has a market capitalization of $37.92 billion, a P/E ratio of 16.54 and a beta of 1.02. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. As a group, sell-side analysts predict that Occidental Petroleum will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.38%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. Occidental Petroleum's dividend payout ratio is currently 39.34%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. Berkshire Hathaway Inc boosted its stake in Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after acquiring an additional 8,896,890 shares during the last quarter. Worldquant Millennium Advisors LLC raised its position in shares of Occidental Petroleum by 1,075.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock valued at $95,400,000 after acquiring an additional 1,766,491 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Occidental Petroleum by 48.1% in the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock valued at $203,459,000 after purchasing an additional 1,337,728 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after purchasing an additional 1,278,389 shares during the last quarter. Institutional investors and hedge funds 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.