Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price was down 8.1% during mid-day trading on Thursday . The company traded as low as $36.57 and last traded at $36.99. Approximately 7,049,052 shares changed hands during trading, a decline of 34% from the average daily volume of 10,676,273 shares. The stock had previously closed at $40.23.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. UBS Group decreased their target price on Occidental Petroleum from $52.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Raymond James downgraded shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. TD Cowen cut shares of Occidental Petroleum from a "buy" rating to a "hold" rating and cut their target price for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. Finally, Piper Sandler decreased their price target on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of "Hold" and an average target price of $56.71.
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Occidental Petroleum Stock Up 0.6 %
The company has a market cap of $35.62 billion, a P/E ratio of 15.53 and a beta of 1.02. The business's 50 day moving average price is $46.46 and its 200-day moving average price is $49.04. 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 (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping 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 company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. On average, analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.
Occidental Petroleum Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum's dividend payout ratio is presently 39.34%.
Insider Activity at Occidental Petroleum
In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. The trade was a 0.29 % 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. 0.31% of the stock is currently owned by company insiders.
Institutional Trading of Occidental Petroleum
A number of institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $27,000. VSM Wealth Advisory LLC bought a new position in Occidental Petroleum during the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $32,000. Finally, American National Bank & Trust bought a new stake in Occidental Petroleum in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 88.70% of the company's stock.
About Occidental Petroleum
(
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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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