Occidental Petroleum (NYSE:OXY) Trading Down 0.1% – Time to Sell?

Occidental Petroleum Co. (NYSE:OXY) was down 0.1% during trading on Tuesday . The stock traded as low as $50.21 and last traded at $50.52. Approximately 1,943,802 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 9,130,610 shares. The stock had previously closed at $50.56.

Analyst Upgrades and Downgrades

OXY has been the topic of several analyst reports. Wolfe Research started coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target on the stock. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. Susquehanna reduced their price target on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Stephens reissued an “overweight” rating and set a $76.00 price target on shares of Occidental Petroleum in a report on Thursday, August 8th. Finally, UBS Group reduced their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Price Performance

The company has a fifty day simple moving average of $52.44 and a 200-day simple moving average of $58.25. The company has a market cap of $46.38 billion, a P/E ratio of 12.66 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. Occidental Petroleum’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.29 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.72%. Occidental Petroleum’s payout ratio is presently 21.67%.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC lifted its position in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the 3rd quarter worth approximately $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum during the 1st quarter valued at $44,000. LRI Investments LLC acquired a new position in shares of Occidental Petroleum in the first quarter worth $44,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Occidental Petroleum during the second quarter worth $53,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.