Occidental Petroleum (NYSE:OXY) Trading 0.3% Higher – Should You Buy?

Occidental Petroleum Co. (NYSE:OXY)’s share price shot up 0.3% during mid-day trading on Thursday . The company traded as high as $48.16 and last traded at $47.96. 2,442,472 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 9,586,387 shares. The stock had previously closed at $47.83.

Analyst Ratings Changes

OXY has been the subject of several recent research reports. UBS Group reduced their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Wells Fargo & Company reduced their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Jefferies Financial Group increased their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Susquehanna cut their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Finally, Citigroup cut their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $61.71.

Occidental Petroleum Price Performance

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market cap of $45.16 billion, a price-to-earnings ratio of 12.53 and a beta of 1.55. The business has a fifty day moving average price of $49.00 and a 200 day moving average price of $51.71.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC raised its position in 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 worth $25,000 after purchasing an additional 304 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $27,000. Whipplewood Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter worth approximately $27,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum during the 3rd quarter worth approximately $32,000. Institutional investors 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.