Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares dropped 0.5% during trading on Friday . The company traded as low as $51.86 and last traded at $52.04. Approximately 2,456,293 shares were traded during trading, a decline of 74% from the average daily volume of 9,269,034 shares. The stock had previously closed at $52.30.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Monday, December 9th. Wolfe Research increased their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 price target for the company. JPMorgan Chase & Co. reissued a "neutral" rating and set a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. Finally, Bank of America started coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a "neutral" rating and a $57.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $62.19.
Check Out Our Latest Report on OXY
Occidental Petroleum Price Performance
The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The stock's fifty day moving average price is $49.67 and its 200-day moving average price is $53.60. The firm has a market cap of $48.78 billion, a PE ratio of 13.54 and a beta of 1.57.
Occidental Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.92%.
Insiders Place Their Bets
In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of Occidental Petroleum stock in a transaction that occurred 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 purchase, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.48% of the stock is owned by company insiders.
Hedge Funds Weigh In On Occidental Petroleum
Institutional investors have recently made changes to their positions in the stock. Fortitude Family Office LLC raised its stake in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum in the third quarter worth approximately $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the third quarter valued at approximately $50,000. Westside Investment Management Inc. increased its position in Occidental Petroleum by 224.0% during the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer's stock worth $77,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum during the third quarter worth approximately $87,000. 88.70% of the stock is owned by institutional investors and hedge funds.
Occidental Petroleum Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Occidental Petroleum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Occidental Petroleum wasn't on the list.
While Occidental Petroleum currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
