Occidental Petroleum (NYSE:OXY) Shares Up 1.4%

Occidental Petroleum Co. (NYSE:OXY)’s share price shot up 1.4% during trading on Friday . The stock traded as high as $50.82 and last traded at $50.63. 3,583,098 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 8,702,483 shares. The stock had previously closed at $49.91.

Analyst Ratings Changes

OXY has been the subject of a number of research reports. Susquehanna reduced their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Mizuho decreased their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. UBS Group reduced their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Truist Financial lowered their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Finally, Wells Fargo & Company reduced their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $71.00.

Occidental Petroleum Trading Up 0.8 %

The firm has a market cap of $44.62 billion, a P/E ratio of 13.81 and a beta of 1.58. The company has a 50 day moving average of $56.00 and a 200 day moving average of $60.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (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 in the previous year, the business earned $0.68 EPS. Occidental Petroleum’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts predict that Occidental Petroleum Co. will post 3.57 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.75%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s 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 sale, 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 accessible through this link. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Occidental Petroleum

A number of hedge funds have recently bought and sold shares of the stock. Berkshire Hathaway Inc increased its stake in Occidental Petroleum by 8.7% in the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares during the period. American Century Companies Inc. raised its holdings in shares of Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Occidental Petroleum by 20.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after buying an additional 277,462 shares in the last quarter. Himalaya Capital Management LLC bought a new stake in Occidental Petroleum in the second quarter valued at $92,433,000. Finally, Cooke & Bieler LP raised its stake in Occidental Petroleum by 53.1% during the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after acquiring an additional 503,173 shares in 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.