Occidental Petroleum (NYSE:OXY) Stock Price Down 0.6% – Here’s Why

Occidental Petroleum Co. (NYSE:OXY) traded down 0.6% during mid-day trading on Monday . The company traded as low as $51.77 and last traded at $51.98. 7,831,562 shares traded hands during trading, a decline of 29% from the average session volume of 11,086,349 shares. The stock had previously closed at $52.30.

Analyst Ratings Changes

A number of research analysts have weighed in on OXY shares. Wolfe Research boosted their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Susquehanna dropped their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. UBS Group decreased their target price on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Mizuho dropped their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Evercore ISI lowered their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Trading Down 0.6 %

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 stock has a market capitalization of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. The stock has a 50-day moving average price of $49.70 and a two-hundred day moving average price of $53.40.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV increased its holdings in shares of Occidental Petroleum by 8.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 50,448 shares of the oil and gas producer’s stock valued at $3,180,000 after acquiring an additional 4,113 shares in the last quarter. XTX Topco Ltd bought a new stake in Occidental Petroleum during the 2nd quarter valued at about $256,000. Intech Investment Management LLC raised its holdings in Occidental Petroleum by 59.4% in the second quarter. Intech Investment Management LLC now owns 64,283 shares of the oil and gas producer’s stock worth $4,052,000 after buying an additional 23,966 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Occidental Petroleum by 14.8% in the second quarter. Ieq Capital LLC now owns 34,060 shares of the oil and gas producer’s stock worth $2,147,000 after buying an additional 4,384 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Occidental Petroleum by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 66,216 shares of the oil and gas producer’s stock valued at $4,174,000 after buying an additional 21,462 shares during the last quarter. 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.