Occidental Petroleum (NYSE:OXY) Trading 1% Higher – Still a Buy?

Occidental Petroleum Co. (NYSE:OXY)’s stock price rose 1% on Friday . The stock traded as high as $49.09 and last traded at $48.34. Approximately 3,527,537 shares changed hands during trading, a decline of 63% from the average daily volume of 9,591,286 shares. The stock had previously closed at $47.88.

Wall Street Analyst Weigh In

OXY has been the topic of a number of analyst reports. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Mizuho cut their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Raymond James upped their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Citigroup lowered 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. Finally, Jefferies Financial Group lifted their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.71.

Occidental Petroleum Stock Performance

The stock has a fifty day moving average price of $48.99 and a 200 day moving average price of $51.79. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm has a market cap of $45.23 billion, a price-to-earnings ratio of 12.55 and a beta of 1.55.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was 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 directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 6,854,394 shares of company stock worth $315,101,532 in the last ninety days. Insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC grew its position in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares during the period. Altshuler Shaham Ltd bought a new position in shares of Occidental Petroleum in the 4th quarter worth $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at about $27,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth about $32,000. 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.