Occidental Petroleum (NYSE:OXY) Trading Down 0.4%

Occidental Petroleum Co. (NYSE:OXYGet Free Report)’s share price traded down 0.4% on Monday . The company traded as low as $61.40 and last traded at $61.56. 966,652 shares were traded during trading, a decline of 88% from the average session volume of 7,931,407 shares. The stock had previously closed at $61.79.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price for the company. Morgan Stanley boosted their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. Citigroup cut their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Finally, Truist Financial lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and cut their price objective for the company from $84.00 to $69.00 in a research report on Thursday, May 16th. Eleven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.56.

Read Our Latest Report on Occidental Petroleum

Occidental Petroleum Stock Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. The firm has a market cap of $54.46 billion, a P/E ratio of 16.78 and a beta of 1.61. The stock’s 50 day moving average is $62.18 and its two-hundred day moving average is $61.88.

Occidental Petroleum (NYSE:OXYGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.88 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.43%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 24.04%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the completion of the purchase, the insider now directly owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 4,656,747 shares of company stock valued at $278,664,028 over the last three months. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Occidental Petroleum

Several large investors have recently bought and sold shares of the business. Csenge Advisory Group lifted its holdings in Occidental Petroleum by 15.8% in the second quarter. Csenge Advisory Group now owns 4,391 shares of the oil and gas producer’s stock valued at $277,000 after buying an additional 600 shares during the period. Simplicity Wealth LLC raised its holdings in Occidental Petroleum by 6.8% in the second quarter. Simplicity Wealth LLC now owns 9,764 shares of the oil and gas producer’s stock worth $615,000 after purchasing an additional 619 shares during the period. Bennett Selby Investments LP raised its holdings in Occidental Petroleum by 20.0% in the second quarter. Bennett Selby Investments LP now owns 3,784 shares of the oil and gas producer’s stock worth $239,000 after purchasing an additional 630 shares during the period. Apella Capital LLC raised its holdings in Occidental Petroleum by 6.2% in the second quarter. Apella Capital LLC now owns 3,602 shares of the oil and gas producer’s stock worth $220,000 after purchasing an additional 211 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Occidental Petroleum in the second quarter worth $520,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

(Get Free Report)

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.

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