Occidental Petroleum (NYSE:OXY) Trading 1.1% Higher - What's Next?

Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shot up 1.1% during trading on Wednesday . The stock traded as high as $48.22 and last traded at $48.19. 1,703,103 shares were traded during trading, a decline of 83% from the average session volume of 9,852,677 shares. The stock had previously closed at $47.65.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler cut their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock 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. StockNews.com lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $60.45.

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Occidental Petroleum Trading Up 0.3 %

The stock has a market capitalization of $45.15 billion, a price-to-earnings ratio of 19.72 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The business has a 50-day moving average of $48.61 and a 200-day moving average of $50.01.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued 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. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. Occidental Petroleum's dividend payout ratio (DPR) is 39.34%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company's stock.

Institutional Trading of Occidental Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after buying an additional 10,434,098 shares in the last quarter. Berkshire Hathaway Inc lifted its position in shares of Occidental Petroleum by 3.5% during the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after acquiring an additional 8,896,890 shares during the last quarter. H&H International Investment LLC lifted its position in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after acquiring an additional 7,680,598 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in shares of Occidental Petroleum by 1,075.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock valued at $95,400,000 after acquiring an additional 1,766,491 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Occidental Petroleum by 48.1% during the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock valued at $203,459,000 after acquiring an additional 1,337,728 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

About Occidental Petroleum

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.