Occidental Petroleum (NYSE:OXY) Trading Up 0.4% – Should You Buy?

Occidental Petroleum Co. (NYSE:OXY) rose 0.4% on Wednesday . The stock traded as high as $48.64 and last traded at $48.25. Approximately 2,235,404 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 9,378,839 shares. The stock had previously closed at $48.05.

Wall Street Analyst Weigh In

OXY has been the topic of several recent analyst reports. BMO Capital Markets reduced their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday. Susquehanna reduced their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Stephens raised their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Truist Financial reduced their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.75.

Occidental Petroleum Price Performance

The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a market cap of $45.48 billion, a price-to-earnings ratio of 12.57 and a beta of 1.57. The stock has a 50-day moving average price of $51.26 and a two-hundred day moving average price of $55.77.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 1.82%. Occidental Petroleum’s payout ratio is 22.92%.

Institutional Trading of Occidental Petroleum

A number of institutional investors have recently made changes to their positions in OXY. Dynamic Advisor Solutions LLC boosted its position in shares of Occidental Petroleum by 2.7% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 17,464 shares of the oil and gas producer’s stock worth $1,101,000 after purchasing an additional 456 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Occidental Petroleum by 12.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 24,874 shares of the oil and gas producer’s stock worth $1,568,000 after acquiring an additional 2,712 shares during the period. Great Valley Advisor Group Inc. lifted its position in Occidental Petroleum by 7.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 32,618 shares of the oil and gas producer’s stock worth $2,056,000 after acquiring an additional 2,301 shares during the period. V Square Quantitative Management LLC lifted its position in Occidental Petroleum by 9.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 3,519 shares of the oil and gas producer’s stock worth $222,000 after acquiring an additional 317 shares during the period. Finally, SteelPeak Wealth LLC lifted its position in Occidental Petroleum by 14.5% during the 2nd quarter. SteelPeak Wealth LLC now owns 5,109 shares of the oil and gas producer’s stock worth $323,000 after acquiring an additional 646 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Occidental Petroleum

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.