Occidental Petroleum (NYSE:OXY) Stock Price Up 0.9% - Still a Buy?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price traded up 0.9% on Monday . The stock traded as high as $47.30 and last traded at $46.93. 2,016,575 shares were traded during mid-day trading, a decline of 82% from the average session volume of 11,145,271 shares. The stock had previously closed at $46.53.

Analyst Ratings Changes

Several research firms recently commented on OXY. Piper Sandler decreased their price target on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Roth Capital set a $54.00 price target on shares of Occidental Petroleum in a report on Thursday, January 23rd. UBS Group raised their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Finally, The Goldman Sachs Group cut shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $60.45.

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Occidental Petroleum Price Performance

The stock's 50 day moving average price is $48.68 and its two-hundred day moving average price is $50.11. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm has a market capitalization of $45.04 billion, a price-to-earnings ratio of 19.67 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's payout ratio is 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Howard Capital Management Inc. increased its stake in shares of Occidental Petroleum by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock valued at $209,000 after acquiring an additional 216 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after acquiring an additional 248 shares during the period. Empire Financial Management Company LLC grew its holdings in Occidental Petroleum by 4.1% during the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer's stock worth $329,000 after purchasing an additional 250 shares during the period. Park Avenue Securities LLC grew its holdings in Occidental Petroleum by 3.2% during the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock worth $398,000 after purchasing an additional 250 shares during the period. Finally, Horizon Investments LLC boosted its holdings in shares of Occidental Petroleum by 2.3% during the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after acquiring an additional 257 shares during the period. 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.