Occidental Petroleum Co. (NYSE:OXY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Occidental Petroleum Co. (NYSE:OXY) have been given a consensus recommendation of “Hold” by the twenty-one brokerages that are covering the firm, Marketbeat.com reports. One analyst has 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. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $62.10.

A number of research analysts recently weighed in on OXY shares. Bank of America began coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective on the stock. Piper Sandler dropped their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday. Wolfe Research upped their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Truist Financial dropped their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Finally, Citigroup decreased their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th.

Occidental Petroleum Price Performance

NYSE OXY opened at $47.13 on Friday. The firm has a market cap of $44.22 billion, a P/E ratio of 12.27 and a beta of 1.57. The stock’s 50-day moving average is $50.03 and its two-hundred day moving average is $55.04. Occidental Petroleum has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.87%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC grew its position in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $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 valued at $32,000. LRI Investments LLC grew its holdings in shares of Occidental Petroleum by 34.6% in the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after purchasing an additional 233 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth about $50,000. Finally, Exchange Traded Concepts LLC bought a new position in Occidental Petroleum during the 3rd quarter valued at about $87,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.