Occidental Petroleum (NYSE:OXY) Trading Up 0.8% - Still a Buy?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s stock price shot up 0.8% on Friday . The company traded as high as $52.54 and last traded at $51.59. 4,551,893 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 8,996,186 shares. The stock had previously closed at $51.19.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OXY shares. Truist Financial dropped their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a "hold" rating on the stock in a report on Monday, September 30th. UBS Group cut their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. Scotiabank lowered their price target on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Piper Sandler cut their price objective on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. Finally, Citigroup lowered their target price on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating on the stock in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $62.10.

Occidental Petroleum Stock Up 0.3 %

The company has a 50-day moving average price of $49.51 and a 200 day moving average price of $53.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $48.18 billion, a PE ratio of 13.37 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.71%. Occidental Petroleum's payout ratio is 22.92%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction dated 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 transaction, the insider now owns 264,178,414 shares of the company's stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds have recently bought and sold shares of OXY. Harbor Capital Advisors Inc. grew its stake in shares of Occidental Petroleum by 5.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 23,368 shares of the oil and gas producer's stock worth $1,155,000 after buying an additional 1,274 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Occidental Petroleum by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 77,080 shares of the oil and gas producer's stock worth $3,973,000 after acquiring an additional 926 shares in the last quarter. Principal Financial Group Inc. increased its stake in Occidental Petroleum by 7.1% during the third quarter. Principal Financial Group Inc. now owns 773,762 shares of the oil and gas producer's stock worth $39,880,000 after acquiring an additional 51,042 shares during the last quarter. Alternative Investment Advisors LLC. purchased a new stake in Occidental Petroleum during the third quarter valued at approximately $1,002,000. Finally, Retirement Systems of Alabama lifted its stake in shares of Occidental Petroleum by 1.8% in the 3rd quarter. Retirement Systems of Alabama now owns 149,387 shares of the oil and gas producer's stock valued at $7,699,000 after purchasing an additional 2,700 shares during 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.