Occidental Petroleum (NYSE:OXY) Trading Down 0.6% - What's Next?

Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) dropped 0.6% during mid-day trading on Thursday . The stock traded as low as $52.16 and last traded at $52.40. Approximately 1,541,523 shares changed hands during trading, a decline of 84% from the average daily volume of 9,518,878 shares. The stock had previously closed at $52.70.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James upped their price target on Occidental Petroleum from $77.00 to $78.00 and gave the company a "strong-buy" rating in a research note on Thursday, November 21st. Citigroup dropped their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating for the company in a research report on Tuesday, November 26th. Susquehanna decreased their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a report on Thursday, November 14th. Barclays cut their target price on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. Finally, Truist Financial raised their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of "Hold" and an average target price of $62.19.

Occidental Petroleum Price Performance

The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The stock has a fifty day moving average of $49.65 and a 200-day moving average of $53.61. The stock has a market capitalization of $49.05 billion, a price-to-earnings ratio of 13.61 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is 22.92%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of Occidental Petroleum stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the transaction, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rule One Partners LLC acquired a new stake in Occidental Petroleum during the 3rd quarter worth approximately $14,199,000. Stephens Inc. AR raised its stake in shares of Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer's stock worth $777,000 after purchasing an additional 10,382 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Occidental Petroleum during the third quarter worth $2,509,000. Cerity Partners LLC grew its position in Occidental Petroleum by 27.7% in the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer's stock valued at $3,638,000 after buying an additional 15,316 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in Occidental Petroleum by 1,247.7% in the 3rd quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer's stock valued at $2,602,000 after buying an additional 46,740 shares during the period. Hedge funds and other 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.