Occidental Petroleum (NYSE:OXY) Trading Down 0.7% – Should You Sell?

Occidental Petroleum Co. (NYSE:OXY) shares were down 0.7% on Monday . The company traded as low as $45.94 and last traded at $46.33. Approximately 5,142,789 shares traded hands during trading, a decline of 47% from the average daily volume of 9,614,694 shares. The stock had previously closed at $46.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Wolfe Research lifted their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. TD Cowen dropped their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. UBS Group reduced their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Raymond James boosted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned 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.com, the company has a consensus rating of “Hold” and an average price target of $61.71.

Occidental Petroleum Stock Down 0.6 %

The business has a fifty day moving average of $49.43 and a 200-day moving average of $52.54. The stock has a market cap of $43.52 billion, a PE ratio of 12.08 and a beta of 1.55. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were issued a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.90%. Occidental Petroleum’s payout ratio is currently 22.92%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

Institutional Trading of Occidental Petroleum

A number of hedge funds have recently bought and sold shares of OXY. Segment Wealth Management LLC boosted its position in shares of Occidental Petroleum by 5.2% during the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock worth $205,000 after acquiring an additional 196 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its holdings 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 purchasing an additional 200 shares in the last quarter. Leavell Investment Management Inc. increased 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 purchasing an additional 200 shares during the last quarter. Empire Financial Management Company LLC raised its holdings in Occidental Petroleum by 4.1% during the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after purchasing an additional 250 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 250 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.