Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares rose 0.3% on Thursday . The company traded as high as $50.17 and last traded at $49.91. Approximately 2,775,701 shares changed hands during trading, a decline of 75% from the average daily volume of 11,242,795 shares. The stock had previously closed at $49.75.
Wall Street Analysts Forecast Growth
A number of research firms have commented on OXY. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday. Stephens reaffirmed an "overweight" rating and issued a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Roth Capital set a $54.00 price objective on Occidental Petroleum in a research note on Thursday, January 23rd. Truist Financial raised their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Finally, Citigroup lowered their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and an average price target of $59.82.
Check Out Our Latest Research Report on Occidental Petroleum
Occidental Petroleum Stock Down 1.3 %
The company has a market capitalization of $45.90 billion, a PE ratio of 20.02 and a beta of 1.51. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $48.28 and a 200 day moving average of $49.87.
Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.
Occidental Petroleum Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. Occidental Petroleum's dividend payout ratio (DPR) is 39.34%.
Insiders Place Their Bets
In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction on Friday, February 7th. The stock was 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 directly owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. The trade was 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. 0.31% of the stock is owned by company insiders.
Institutional Investors Weigh In On Occidental Petroleum
Institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum in the fourth quarter valued at $26,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum during the fourth quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new position in Occidental Petroleum in the fourth quarter valued at approximately $32,000. Finally, Atala Financial Inc purchased a new position in Occidental Petroleum in the fourth quarter valued at approximately $40,000. 88.70% of the stock is owned by hedge funds and other institutional investors.
About Occidental Petroleum
(
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.
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