Occidental Petroleum (NYSE:OXY) Shares Down 0.7% – Time to Sell?

Occidental Petroleum Co. (NYSE:OXY) shares dropped 0.7% during mid-day trading on Friday . The stock traded as low as $49.57 and last traded at $49.97. Approximately 3,070,357 shares traded hands during trading, a decline of 67% from the average daily volume of 9,417,615 shares. The stock had previously closed at $50.34.

Analysts Set New Price Targets

OXY has been the topic of several research reports. Evercore ISI decreased their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company reduced their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Jefferies Financial Group increased their price target on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Citigroup reduced their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Finally, Barclays reduced their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. One research 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. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Stock Down 1.3 %

The firm has a 50 day simple moving average of $49.70 and a two-hundred day simple moving average of $53.20. The company has a market capitalization of $46.61 billion, a PE ratio of 12.93 and a beta of 1.57. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.77%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price 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 in the company, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

Several institutional investors have recently modified their holdings of OXY. Fortitude Family Office LLC grew 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 worth $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $50,000. New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at approximately $59,000. Finally, Westside Investment Management Inc. lifted its stake in Occidental Petroleum by 224.0% in the 4th quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,075 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.