Occidental Petroleum (NYSE:OXY) Trading Down 0.3% - Here's Why

Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) were down 0.3% on Wednesday . The stock traded as low as $51.72 and last traded at $51.91. Approximately 3,137,580 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 9,503,822 shares. The stock had previously closed at $52.08.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reduced their price target on Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating for the company in a report on Friday, October 4th. Mizuho reduced their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Jefferies Financial Group increased their price target 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, Scotiabank lowered 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 report on Thursday, October 10th. One 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $62.19.

Occidental Petroleum Trading Up 1.2 %

The business's fifty day simple moving average is $49.62 and its two-hundred day simple moving average is $53.61. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $49.43 billion, a P/E ratio of 13.72 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.92%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, the insider now directly owns 264,178,414 shares of the company's stock, valued at $12,046,535,678.40. This represents a 1.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company's stock.

Institutional Trading of Occidental Petroleum

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock worth $710,886,000 after purchasing an additional 444,850 shares during the period. H&H International Investment LLC raised its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Occidental Petroleum by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer's stock worth $206,560,000 after buying an additional 98,703 shares during the period. Swiss National Bank boosted its stake in Occidental Petroleum by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer's stock valued at $101,720,000 after buying an additional 5,200 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer's stock valued at $104,707,000 after acquiring an additional 277,462 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.