Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price fell 0.1% during mid-day trading on Monday . The company traded as low as $49.19 and last traded at $49.24. 3,226,700 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 9,610,364 shares. The stock had previously closed at $49.29.
Analyst Ratings Changes
OXY has been the topic of several analyst reports. Scotiabank dropped their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. restated a "neutral" rating and set a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Barclays reduced their price objective on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. Jefferies Financial Group raised their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. Finally, Raymond James boosted their price objective 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. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $62.19.
Check Out Our Latest Analysis on OXY
Occidental Petroleum Stock Performance
The business's 50 day moving average is $49.63 and its 200 day moving average is $52.84. The stock has a market capitalization of $45.89 billion, a PE ratio of 12.74 and a beta of 1.57. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.
Occidental Petroleum Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.80%. Occidental Petroleum's dividend payout ratio is currently 22.92%.
Insiders Place Their Bets
In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares of the company's stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.
Institutional Trading of Occidental Petroleum
A number of institutional investors have recently modified their holdings of OXY. Portfolio Design Labs LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter worth $209,000. Stonebridge Financial Group LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $75,000. Silicon Valley Capital Partners lifted its stake in Occidental Petroleum by 23.2% during the 4th quarter. Silicon Valley Capital Partners now owns 17,294 shares of the oil and gas producer's stock valued at $855,000 after acquiring an additional 3,260 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new stake in Occidental Petroleum in the fourth quarter valued at $68,000. Finally, Savant Capital LLC boosted its stake in shares of Occidental Petroleum by 3.6% in the fourth quarter. Savant Capital LLC now owns 24,407 shares of the oil and gas producer's stock worth $1,206,000 after buying an additional 840 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.
About Occidental Petroleum
(
Get Free Report)
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.
Further Reading
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