Occidental Petroleum (NYSE:OXY) Stock Price Down 0.7%

Occidental Petroleum Co. (NYSE:OXY) shares were down 0.7% on Friday . The stock traded as low as $60.05 and last traded at $60.11. Approximately 835,254 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 7,837,313 shares. The stock had previously closed at $60.53.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Mizuho upped their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Morgan Stanley increased their price target on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Susquehanna boosted their price target on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Wells Fargo & Company lowered their target price on shares of Occidental Petroleum from $69.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Finally, Scotiabank cut their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.31.

Occidental Petroleum Stock Performance

The firm’s fifty day simple moving average is $61.64 and its 200 day simple moving average is $61.99. The company has a market capitalization of $53.69 billion, a PE ratio of 16.42 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The company’s revenue was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. On average, research analysts predict that Occidental Petroleum Co. will post 3.72 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 10th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $59.67 per share, for a total transaction of $82,752,981.48. Following the transaction, 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 filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have bought 4,656,747 shares of company stock valued at $278,664,028. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Institutional investors and hedge funds have recently made changes to their positions in the business. Atomi Financial Group Inc. purchased a new stake in shares of Occidental Petroleum during the second quarter worth about $279,000. Wealth Advisory Solutions LLC boosted its holdings in Occidental Petroleum by 0.9% in the 2nd quarter. Wealth Advisory Solutions LLC now owns 170,301 shares of the oil and gas producer’s stock worth $10,734,000 after buying an additional 1,557 shares during the last quarter. Skylands Capital LLC increased its stake in Occidental Petroleum by 2.9% during the 2nd quarter. Skylands Capital LLC now owns 62,009 shares of the oil and gas producer’s stock worth $3,908,000 after buying an additional 1,775 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Occidental Petroleum by 0.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 79,099 shares of the oil and gas producer’s stock valued at $4,986,000 after acquiring an additional 570 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Occidental Petroleum by 1.0% in the second quarter. State of Michigan Retirement System now owns 182,139 shares of the oil and gas producer’s stock valued at $11,480,000 after acquiring an additional 1,800 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other 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.