Occidental Petroleum (NYSE:OXY) Trading Down 0.6% - Here's Why

Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) fell 0.6% during trading on Monday . The company traded as low as $51.77 and last traded at $51.98. 7,831,562 shares were traded during trading, a decline of 29% from the average session volume of 11,086,349 shares. The stock had previously closed at $52.30.

Wall Street Analyst Weigh In

OXY has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Raymond James raised their target price on Occidental Petroleum from $77.00 to $78.00 and gave the company a "strong-buy" rating in a research report on Thursday, November 21st. Piper Sandler dropped their price target on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. Scotiabank decreased their price objective on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Finally, Bank of America began coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They set a "neutral" rating and a $57.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $62.19.

Occidental Petroleum Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a market capitalization of $48.78 billion, a price-to-earnings ratio of 13.54 and a beta of 1.57. The company has a 50-day moving average price of $49.70 and a 200-day moving average price of $53.40.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. Occidental Petroleum's payout ratio is currently 22.92%.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company's stock.

Institutional Trading of Occidental Petroleum

Large investors have recently bought and sold shares of the business. Westside Investment Management Inc. boosted its stake in shares of Occidental Petroleum by 224.0% during the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer's stock worth $77,000 after buying an additional 1,075 shares during the period. Simon Quick Advisors LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $247,000. Capricorn Fund Managers Ltd purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $4,691,000. Segment Wealth Management LLC increased its holdings in shares of Occidental Petroleum by 7.7% in the fourth quarter. Segment Wealth Management LLC now owns 4,278 shares of the oil and gas producer's stock valued at $211,000 after purchasing an additional 305 shares during the period. Finally, TB Alternative Assets Ltd. purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $16,260,000. Institutional investors and hedge funds 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.