Occidental Petroleum (NYSE:OXY) Stock Price Up 1% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY) rose 1% during trading on Monday . The stock traded as high as $48.46 and last traded at $48.41. Approximately 2,339,556 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 9,959,885 shares. The stock had previously closed at $47.94.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a research note on Thursday, January 23rd. UBS Group upped their price target on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, Piper Sandler cut their price target on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.45.

Occidental Petroleum Stock Up 2.4 %

The business has a 50 day simple moving average of $48.45 and a 200 day simple moving average of $49.91. The company has a market capitalization of $46.03 billion, a price-to-earnings ratio of 20.10 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a dividend of $0.24 per share. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The shares were bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at $27,000. Whipplewood Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at $27,000. Bernard Wealth Management Corp. purchased a new stake in Occidental Petroleum during the 4th quarter worth about $32,000. Finally, Atala Financial Inc acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.