Occidental Petroleum (NYSE:OXY) Stock Price Down 0.6% - What's Next?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price dropped 0.6% during trading on Monday . The stock traded as low as $48.33 and last traded at $48.55. Approximately 4,437,687 shares traded hands during trading, a decline of 58% from the average daily volume of 10,528,802 shares. The stock had previously closed at $48.84.

Analysts Set New Price Targets

OXY has been the subject of a number of recent research reports. Roth Capital set a $54.00 price target on Occidental Petroleum in a research note on Thursday, January 23rd. Piper Sandler lowered 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. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. Raymond James raised their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 21st. Finally, UBS Group lifted their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and an average price target of $61.55.

Occidental Petroleum Stock Performance

The stock has a 50 day moving average price of $49.40 and a two-hundred day moving average price of $50.86. The company has a market capitalization of $42.74 billion, a price-to-earnings ratio of 18.67 and a beta of 1.55. 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 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. The firm had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. On average, analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.11%. 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 dividend payout ratio is 39.34%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost 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 of the company's stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 6,854,394 shares of company stock worth $315,101,532 over the last three months. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Occidental Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new position in Occidental Petroleum during the fourth quarter worth about $26,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at $27,000. VSM Wealth Advisory LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth $27,000. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum in the third quarter valued at about $32,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Occidental Petroleum in the fourth quarter worth about $32,000. Institutional investors 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.