Occidental Petroleum (NYSE:OXY) Stock Price Up 0.5% – Time to Buy?

Occidental Petroleum Co. (NYSE:OXY) rose 0.5% during trading on Monday . The stock traded as high as $49.09 and last traded at $48.13. Approximately 10,407,152 shares traded hands during trading, an increase of 10% from the average daily volume of 9,485,194 shares. The stock had previously closed at $47.88.

Analysts Set New Price Targets

OXY has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Piper Sandler dropped their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Susquehanna dropped their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Truist Financial upped their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Stephens increased their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $61.71.

Occidental Petroleum Trading Up 0.5 %

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 firm’s 50 day moving average is $49.00 and its 200 day moving average is $51.59. The company has a market capitalization of $45.16 billion, a PE ratio of 12.53 and a beta of 1.55.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have purchased 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Certified Advisory Corp purchased a new position in Occidental Petroleum during the 4th quarter valued at $476,000. Rule One Partners LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $14,199,000. Stephens Inc. AR boosted its holdings in shares of Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after buying an additional 10,382 shares in the last quarter. Sarasin & Partners LLP boosted its holdings in shares of Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after buying an additional 50,983 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $2,509,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.