Occidental Petroleum (NYSE:OXY) Downgraded to “Sell” Rating by StockNews.com

StockNews.com cut shares of Occidental Petroleum (NYSE:OXY) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

OXY has been the subject of several other reports. Wolfe Research lifted their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. TD Cowen decreased their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. UBS Group dropped their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Stephens raised their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $62.10.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $48.56 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market cap of $45.57 billion, a price-to-earnings ratio of 12.65 and a beta of 1.57. The firm’s fifty day moving average price is $49.65 and its 200 day moving average price is $54.58. Occidental Petroleum has a 1-year low of $45.17 and a 1-year high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.81%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OXY. Fortitude Family Office LLC lifted its position in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at about $32,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum in the third quarter worth $50,000. Strategic Financial Concepts LLC bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at about $53,000. Finally, Exchange Traded Concepts LLC bought a new position in Occidental Petroleum in the third quarter valued at approximately $87,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.