Occidental Petroleum (NYSE:OXY) Stock Rating Lowered by TD Cowen

TD Cowen lowered shares of Occidental Petroleum (NYSE:OXY - Free Report) from a buy rating to a hold rating in a research report report published on Tuesday, MarketBeat.com reports. They currently have $45.00 price objective on the oil and gas producer's stock, down from their previous price objective of $68.00.

Other equities analysts also recently issued reports about the stock. Piper Sandler dropped their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Truist Financial lifted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Mizuho dropped their price target on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a research report on Monday, December 16th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a report on Thursday, January 23rd. Finally, Citigroup dropped their target price on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.71.

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Occidental Petroleum Stock Performance

Occidental Petroleum stock traded up $1.21 during mid-day trading on Tuesday, reaching $37.68. 17,798,376 shares of the company's stock were exchanged, compared to its average volume of 10,803,899. Occidental Petroleum has a one year low of $34.79 and a one year high of $71.19. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The business's fifty day simple moving average is $46.46 and its 200 day simple moving average is $49.05. The firm has a market capitalization of $35.41 billion, a PE ratio of 15.44 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping 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 analyst estimates of $7.14 billion. On average, sell-side analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio is presently 39.34%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 0.31% of the company's stock.

Institutional Trading of Occidental Petroleum

Institutional investors have recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in shares of Occidental Petroleum during the fourth quarter worth about $26,000. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter worth $27,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $32,000. Finally, American National Bank & Trust bought a new stake in Occidental Petroleum in the first quarter worth approximately $39,000. 88.70% of the stock is currently owned by hedge funds and other 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.