Occidental Petroleum (NYSE:OXY) Trading Up 0.1%

Occidental Petroleum Co. (NYSE:OXY)’s share price shot up 0.1% during trading on Monday . The company traded as high as $57.98 and last traded at $57.65. 1,787,284 shares were traded during mid-day trading, a decline of 78% from the average session volume of 8,117,746 shares. The stock had previously closed at $57.61.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Scotiabank decreased their price target on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Mizuho raised their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Wolfe Research initiated coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target on the stock. Finally, Truist Financial reduced their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The firm has a market capitalization of $51.11 billion, a PE ratio of 15.85 and a beta of 1.61. The company has a fifty day moving average price of $60.58 and a 200-day moving average price of $62.15.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business earned $0.68 earnings per share. Occidental Petroleum’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts expect that Occidental Petroleum Co. will post 3.7 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.53%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the completion of the transaction, the insider now owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,656,747 shares of company stock worth $278,664,028 over the last quarter. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Investment Research & Advisory Group Inc. boosted its stake in shares of 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 valued at $25,000 after purchasing an additional 167 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at $34,000. LifeSteps Financial Inc. bought a new position in shares of Occidental Petroleum in the 1st quarter worth $34,000. Able Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth $38,000. Finally, New Covenant Trust Company N.A. purchased a new position in Occidental Petroleum in the first quarter valued at about $44,000. 88.70% of the stock is currently owned by institutional investors.

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.