Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price rose 0.3% on Tuesday . The stock traded as high as $47.85 and last traded at $47.41. Approximately 1,851,528 shares traded hands during trading, a decline of 81% from the average daily volume of 9,847,337 shares. The stock had previously closed at $47.26.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Citigroup reduced their price objective on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday. StockNews.com cut Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Truist Financial increased their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Finally, Stephens reiterated an "overweight" rating and set a $71.00 target price on shares of Occidental Petroleum in a research report on Wednesday, February 19th. 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $60.45.
Read Our Latest Stock Analysis on Occidental Petroleum
Occidental Petroleum Price Performance
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 firm has a market cap of $45.15 billion, a price-to-earnings ratio of 19.72 and a beta of 1.51. The company has a 50 day moving average of $48.68 and a 200 day moving average of $50.11.
Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. Equities research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. Occidental Petroleum's dividend payout ratio is currently 39.34%.
Insider Buying and Selling
In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company's stock.
Institutional Investors Weigh In On Occidental Petroleum
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Altshuler Shaham Ltd bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC bought a new position in Occidental Petroleum during the 4th quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in Occidental Petroleum in the 4th quarter worth about $27,000. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $32,000. Finally, Atala Financial Inc acquired a new stake in Occidental Petroleum during the fourth quarter worth approximately $40,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.
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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