Occidental Petroleum (NYSE:OXY) Stock Price Up 0.2% – Time to Buy?

Occidental Petroleum Co. (NYSE:OXY)’s stock price was up 0.2% during trading on Wednesday . The company traded as high as $49.11 and last traded at $49.08. Approximately 1,401,452 shares changed hands during trading, a decline of 85% from the average daily volume of 9,395,317 shares. The stock had previously closed at $49.00.

Analysts Set New Price Targets

OXY has been the topic of several research reports. Stephens raised their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. BMO Capital Markets reduced their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.71.

Occidental Petroleum Price Performance

The company’s fifty day moving average is $49.54 and its 200 day moving average is $52.78. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The stock has a market cap of $43.78 billion, a PE ratio of 12.15 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was acquired 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 represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently added to or reduced their stakes in the business. Segment Wealth Management LLC lifted its stake in Occidental Petroleum by 5.2% in the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 196 shares during the last quarter. Wealth Alliance Advisory Group LLC lifted its stake in Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after buying an additional 200 shares during the last quarter. Leavell Investment Management Inc. lifted its stake in Occidental Petroleum by 3.3% in the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 200 shares during the last quarter. Empire Financial Management Company LLC lifted its stake in Occidental Petroleum by 4.1% in the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after buying an additional 250 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of Occidental Petroleum by 3.2% during the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds 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.