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

Occidental Petroleum Co. (NYSE:OXY) shares traded down 0.7% during trading on Tuesday . The company traded as low as $49.14 and last traded at $49.22. 1,998,205 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 9,547,519 shares. The stock had previously closed at $49.56.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OXY. Susquehanna dropped their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Citigroup dropped their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Jefferies Financial Group raised their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Raymond James increased their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have given 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, the company presently has an average rating of “Hold” and an average target price of $62.19.

Occidental Petroleum Trading Down 1.2 %

The stock has a market cap of $45.97 billion, a price-to-earnings ratio of 12.76 and a beta of 1.57. The business has a 50-day simple moving average of $49.66 and a two-hundred day simple moving average of $52.92. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction 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 transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Several hedge funds and other institutional investors have recently made changes to their positions in OXY. Fortitude Family Office LLC raised its stake 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 buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum during the 3rd quarter valued at $50,000. New Wave Wealth Advisors LLC bought a new position in Occidental Petroleum during the fourth quarter worth $59,000. Finally, Westside Investment Management Inc. increased its holdings in shares of Occidental Petroleum by 224.0% in the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,075 shares during the last quarter. 88.70% of the stock is owned by 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.