Occidental Petroleum (NYSE:OXY) Trading Up 0% – Still a Buy?

Occidental Petroleum Co. (NYSE:OXY) shares were up 0% during mid-day trading on Thursday . The stock traded as high as $50.63 and last traded at $50.18. Approximately 1,438,316 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 9,098,840 shares. The stock had previously closed at $50.17.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OXY shares. Susquehanna dropped their price target on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Evercore ISI lowered their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. UBS Group lowered their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Mizuho lowered their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Stephens reaffirmed an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Price Performance

The stock has a market cap of $45.08 billion, a P/E ratio of 12.36 and a beta of 1.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The business has a 50 day simple moving average of $53.09 and a 200-day simple moving average of $58.83.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 EPS. On average, sell-side analysts forecast that Occidental Petroleum Co. will post 3.31 EPS for the current year.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Several institutional investors and hedge funds have recently modified their holdings of OXY. Fortitude Family Office LLC increased its position in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum in the 1st quarter worth approximately $44,000. LRI Investments LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter worth approximately $44,000. Strategic Financial Concepts LLC purchased a new position in shares of Occidental Petroleum in the 2nd quarter valued at approximately $53,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum in the 3rd quarter valued at approximately $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.