Occidental Petroleum (NYSE:OXY) Stock Price Down 0.9% – Here’s What Happened

Occidental Petroleum Co. (NYSE:OXY)’s stock price fell 0.9% during trading on Tuesday . The company traded as low as $51.92 and last traded at $52.23. 2,607,081 shares were traded during trading, a decline of 73% from the average session volume of 9,603,845 shares. The stock had previously closed at $52.68.

Analyst Ratings Changes

Several research firms have recently commented on OXY. Jefferies Financial Group raised their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Barclays dropped their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Susquehanna reduced their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Stephens lifted their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price on the stock. One equities research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Price Performance

The company has a market capitalization of $49.05 billion, a PE ratio of 13.61 and a beta of 1.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The company’s 50 day simple moving average is $49.65 and its 200 day simple moving average is $53.61.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.68%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of Occidental Petroleum

Several institutional investors and hedge funds have recently bought and sold shares of the business. Gateway Advisory LLC increased its stake in Occidental Petroleum by 3.9% in the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock valued at $306,000 after purchasing an additional 184 shares during the period. Segment Wealth Management LLC increased its position in Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after acquiring an additional 196 shares during the period. Wealth Alliance Advisory Group LLC raised its stake in Occidental Petroleum by 2.2% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after acquiring an additional 200 shares during the last quarter. Leavell Investment Management Inc. grew its stake in shares of Occidental Petroleum by 3.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 200 shares during the last quarter. Finally, Empire Financial Management Company LLC increased its holdings in shares of 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 purchasing an additional 250 shares during the period. Hedge funds and other 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.