Occidental Petroleum (NYSE:OXY) Stock Price Down 0.1% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY)’s stock price traded down 0.1% on Friday . The stock traded as low as $46.72 and last traded at $46.91. 1,983,539 shares changed hands during trading, a decline of 79% from the average session volume of 9,654,319 shares. The stock had previously closed at $46.98.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OXY. TD Cowen decreased their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Truist Financial lifted their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Raymond James raised their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Mizuho reduced their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Wolfe Research boosted 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. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.71.

Occidental Petroleum Trading Down 0.4 %

The company has a market capitalization of $43.90 billion, a price-to-earnings ratio of 12.18 and a beta of 1.55. The business has a fifty day moving average price of $49.18 and a 200 day moving average price of $52.23. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Occidental Petroleum

Large investors have recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in Occidental Petroleum by 160.0% in 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 period. Whipplewood Advisors LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $27,000. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum during the third quarter valued at $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the 3rd quarter worth about $50,000. Finally, Deseret Mutual Benefit Administrators boosted its holdings in Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after buying an additional 248 shares during the period. 88.70% of the stock is currently 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.