Occidental Petroleum (NYSE:OXY) Upgraded to Hold at StockNews.com

Occidental Petroleum (NYSE:OXY - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Wednesday.

Several other analysts also recently issued reports on the company. Truist Financial upped their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Monday. Stephens upped their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Susquehanna decreased their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research report on Thursday, November 14th. Piper Sandler reduced their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Finally, Citigroup cut their price objective on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating for the company in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $62.19.

Occidental Petroleum Trading Up 1.2 %

Shares of OXY traded up $0.60 during midday trading on Wednesday, hitting $52.68. The stock had a trading volume of 11,052,786 shares, compared to its average volume of 10,421,025. Occidental Petroleum has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. 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 firm has a market cap of $49.43 billion, a P/E ratio of 13.72 and a beta of 1.57. The business has a 50-day simple moving average of $49.62 and a two-hundred day simple moving average of $53.61.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently modified their holdings of the business. Joule Financial LLC grew its position in shares of Occidental Petroleum by 17.4% in the fourth quarter. Joule Financial LLC now owns 9,595 shares of the oil and gas producer's stock valued at $474,000 after purchasing an additional 1,422 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Occidental Petroleum by 18.7% in the fourth quarter. Aaron Wealth Advisors LLC now owns 6,353 shares of the oil and gas producer's stock worth $314,000 after buying an additional 1,000 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its position in Occidental Petroleum by 9.5% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 8,913 shares of the oil and gas producer's stock valued at $442,000 after acquiring an additional 773 shares during the last quarter. Ameritas Advisory Services LLC lifted its holdings in shares of Occidental Petroleum by 31.8% in the 4th quarter. Ameritas Advisory Services LLC now owns 7,517 shares of the oil and gas producer's stock worth $371,000 after acquiring an additional 1,814 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of Occidental Petroleum by 30.5% in the 4th quarter. HB Wealth Management LLC now owns 22,660 shares of the oil and gas producer's stock valued at $1,120,000 after purchasing an additional 5,290 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

About Occidental Petroleum

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.