Occidental Petroleum (NYSE:OXY) Shares Down 1.7% - Time to Sell?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s stock price dropped 1.7% during mid-day trading on Friday . The stock traded as low as $35.67 and last traded at $35.85. Approximately 5,287,113 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 10,741,416 shares. The stock had previously closed at $36.47.

Analyst Ratings Changes

OXY has been the subject of several analyst reports. The Goldman Sachs Group downgraded Occidental Petroleum from a "neutral" rating to a "sell" rating and cut their price target for the company from $54.00 to $45.00 in a report on Friday, January 31st. Truist Financial lifted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a report on Monday, January 13th. UBS Group decreased their price target on shares of Occidental Petroleum from $52.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Stephens reissued an "overweight" rating and set a $71.00 target price on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Finally, Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $56.71.

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Occidental Petroleum Stock Up 0.6 %

The business has a 50-day moving average price of $46.46 and a 200-day moving average price of $49.04. The company has a market capitalization of $35.62 billion, a price-to-earnings ratio of 15.53 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. As a group, equities analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a $0.24 dividend. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, March 10th. Occidental Petroleum's dividend payout ratio is currently 39.34%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company's stock in a transaction dated 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 acquisition, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Occidental Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of OXY. Certified Advisory Corp acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $476,000. Rule One Partners LLC acquired a new position in shares of Occidental Petroleum in the 3rd quarter worth approximately $14,199,000. Benchmark Investment Advisors LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at $642,000. Fisher Asset Management LLC boosted its stake in shares of Occidental Petroleum by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after purchasing an additional 6,461 shares in the last quarter. Finally, Sarasin & Partners LLP lifted its holdings in Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock valued at $48,942,000 after purchasing an additional 50,983 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

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.