Occidental Petroleum (NYSE:OXY) Trading 1% Higher – Time to Buy?

Occidental Petroleum Co. (NYSE:OXY)’s stock price rose 1% during trading on Tuesday . The company traded as high as $48.44 and last traded at $48.32. Approximately 2,675,957 shares traded hands during trading, a decline of 72% from the average daily volume of 9,602,816 shares. The stock had previously closed at $47.84.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Piper Sandler decreased their price objective on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Raymond James boosted their target price on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Barclays decreased their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $62.10.

Occidental Petroleum Price Performance

The business has a fifty day moving average of $49.91 and a two-hundred day moving average of $54.88. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a market capitalization of $45.15 billion, a price-to-earnings ratio of 12.53 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

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 $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.83%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Several institutional investors have recently added to or reduced their stakes in the company. H&H International Investment LLC lifted its holdings in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after buying an additional 7,680,598 shares in the last quarter. Himalaya Capital Management LLC bought a new position in Occidental Petroleum during the second quarter worth about $92,433,000. Anson Funds Management LP raised its stake in Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares in the last quarter. American Century Companies Inc. grew its position in shares of Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares in the last quarter. Finally, Cooke & Bieler LP increased its holdings in shares of Occidental Petroleum by 53.1% during the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after purchasing an additional 503,173 shares during the period. 88.70% of the stock is currently owned by 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.