Occidental Petroleum (NYSE:OXY) Shares Down 1% - Time to Sell?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) fell 1% during trading on Wednesday . The company traded as low as $46.97 and last traded at $47.13. 2,281,493 shares were traded during mid-day trading, a decline of 77% from the average session volume of 9,752,412 shares. The stock had previously closed at $47.59.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OXY shares. JPMorgan Chase & Co. reissued a "neutral" rating and set a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. Mizuho decreased their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Piper Sandler reduced their price target on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. Stephens lifted their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Finally, StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $61.71.

Occidental Petroleum Stock Performance

The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average of $49.31 and a 200-day moving average of $52.31. The company has a market cap of $44.41 billion, a PE ratio of 12.32 and a beta of 1.55.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the acquisition, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors have recently bought and sold shares of the business. Czech National Bank lifted its stake in Occidental Petroleum by 8.3% during the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer's stock valued at $7,069,000 after acquiring an additional 10,456 shares during the period. True North Advisors LLC boosted its holdings in Occidental Petroleum by 44.2% in the 3rd quarter. True North Advisors LLC now owns 6,272 shares of the oil and gas producer's stock worth $323,000 after buying an additional 1,923 shares during the last quarter. Royal Fund Management LLC lifted its position in shares of Occidental Petroleum by 124.2% in the third quarter. Royal Fund Management LLC now owns 57,416 shares of the oil and gas producer's stock valued at $2,959,000 after acquiring an additional 31,809 shares in the last quarter. Northstar Group Inc. lifted its holdings in Occidental Petroleum by 55.1% in the 3rd quarter. Northstar Group Inc. now owns 10,839 shares of the oil and gas producer's stock valued at $559,000 after purchasing an additional 3,852 shares in the last quarter. Finally, Peirce Capital Management LLC grew its holdings in shares of Occidental Petroleum by 22.2% during the third quarter. Peirce Capital Management LLC now owns 4,299 shares of the oil and gas producer's stock worth $222,000 after buying an additional 782 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.

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