Occidental Petroleum (NYSE:OXY) Stock Price Up 0.8% – Still a Buy?

Occidental Petroleum Co. (NYSE:OXY)’s stock price rose 0.8% during trading on Friday . The stock traded as high as $52.54 and last traded at $51.59. Approximately 4,551,893 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 8,996,186 shares. The stock had previously closed at $51.19.

Analyst Ratings Changes

A number of equities analysts recently commented on OXY shares. UBS Group reduced their price objective on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Jefferies Financial Group lifted their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Barclays dropped their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Mizuho reduced their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Sunday, January 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.10.

Occidental Petroleum Stock Performance

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 $48.46 billion, a PE ratio of 13.45 and a beta of 1.57. The firm’s 50 day moving average is $49.51 and its two-hundred day moving average is $53.97.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

Institutional Trading of Occidental Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of OXY. Fortitude Family Office LLC boosted its holdings in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum in the third quarter valued at $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the third quarter worth about $50,000. Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum during the third quarter worth about $87,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at about $93,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.