Occidental Petroleum (NYSE:OXY) Trading Up 0.1%

Shares of Occidental Petroleum Co. (NYSE:OXY) rose 0.1% during mid-day trading on Thursday . The stock traded as high as $63.40 and last traded at $62.95. Approximately 1,319,606 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 8,044,086 shares. The stock had previously closed at $62.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OXY shares. Barclays began coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, June 21st. Mizuho boosted their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Susquehanna raised their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Finally, Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Eleven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.56.

Occidental Petroleum Stock Up 0.5 %

The firm has a market capitalization of $55.88 billion, a price-to-earnings ratio of 17.22 and a beta of 1.59. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95. The business’s 50-day moving average is $62.94 and its two-hundred day moving average is $61.70.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period last year, the business posted $1.09 earnings per share. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.88 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 10th. This represents a $0.88 annualized dividend and a yield of 1.40%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average price of $59.67 per share, for a total transaction of $82,752,981.48. Following the purchase, the insider now owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have bought 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Institutional investors have recently bought and sold shares of the business. Investment Research & Advisory Group Inc. lifted its position in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares during the period. Orion Capital Management LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $27,000. TLW Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $28,000. Grove Bank & Trust increased its stake in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 240 shares during the last quarter. Finally, LifeSteps Financial Inc. bought a new stake in Occidental Petroleum during the first quarter worth $34,000. Institutional investors own 88.70% of the company’s stock.

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.