Occidental Petroleum (NYSE:OXY) Trading 0.5% Higher - Here's What Happened

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price was up 0.5% during trading on Monday . The company traded as high as $49.09 and last traded at $48.13. Approximately 10,407,152 shares were traded during trading, an increase of 10% from the average daily volume of 9,485,194 shares. The stock had previously closed at $47.88.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OXY. Stephens reaffirmed an "overweight" rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research note on Wednesday. Jefferies Financial Group boosted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Citigroup lowered their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating for the company in a research report on Tuesday, November 26th. Truist Financial upped their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Finally, UBS Group lowered their price target on shares of Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating for the company in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $61.71.

Occidental Petroleum Stock Up 4.3 %

The company's 50 day moving average is $49.01 and its 200 day moving average is $51.45. The company has a market cap of $47.78 billion, a PE ratio of 13.30 and a beta of 1.55. 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 (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 15.89% and a return on equity of 15.98%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. As a group, analysts predict that Occidental Petroleum Co. will post 3.34 earnings per share for the current fiscal year.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction dated Friday, February 7th. The stock was purchased at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have bought 6,854,394 shares of company stock valued at $315,101,532. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Occidental Petroleum

A number of hedge funds have recently bought and sold shares of the stock. Berkshire Hathaway Inc raised its position in shares of Occidental Petroleum by 3.5% in the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock worth $13,053,055,000 after acquiring an additional 8,896,890 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after buying an additional 10,434,098 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Occidental Petroleum by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock valued at $701,816,000 after buying an additional 398,467 shares in the last quarter. H&H International Investment LLC grew its position in shares of Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock worth $475,389,000 after buying an additional 7,680,598 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Occidental Petroleum by 7.5% during the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock worth $349,085,000 after acquiring an additional 491,797 shares in the last quarter. Hedge funds and other 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.