Occidental Petroleum (NYSE:OXY) Rating Increased to Hold at StockNews.com

Occidental Petroleum (NYSE:OXY) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other equities analysts also recently commented on the stock. Scotiabank reduced their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Stephens raised their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Truist Financial dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Wolfe Research increased their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, UBS Group lowered their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.10.

Occidental Petroleum Stock Performance

Shares of OXY opened at $50.51 on Friday. The stock has a market capitalization of $47.40 billion, a price-to-earnings ratio of 13.15 and a beta of 1.57. Occidental Petroleum has a 12 month low of $45.17 and a 12 month high of $71.18. The firm has a fifty day simple moving average of $49.44 and a 200 day simple moving average of $54.26. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum 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 acquired at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Rule One Partners LLC acquired a new stake in Occidental Petroleum during the third quarter worth about $14,199,000. Stephens Inc. AR lifted its holdings in shares of Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after acquiring an additional 10,382 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $2,509,000. Cerity Partners LLC increased its stake in Occidental Petroleum by 27.7% in the third quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after acquiring an additional 15,316 shares during the last quarter. Finally, Synovus Financial Corp raised its position in Occidental Petroleum by 1,247.7% during the third quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer’s stock valued at $2,602,000 after purchasing an additional 46,740 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.