Occidental Petroleum Co. (NYSE:OXY) Given Consensus Rating of “Hold” by Brokerages

Shares of Occidental Petroleum Co. (NYSE:OXY) have been assigned a consensus rating of “Hold” from the twenty-one brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $61.71.

A number of brokerages recently commented on OXY. Susquehanna reduced their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Wolfe Research raised their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Truist Financial raised their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler reduced their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th.

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 purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the purchase, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Institutional investors have recently made changes to their positions in the stock. Certified Advisory Corp purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $476,000. Rule One Partners LLC purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $14,199,000. Stephens Inc. AR grew its stake in shares of Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after buying an additional 10,382 shares during the period. Sarasin & Partners LLP grew its stake in shares of Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after buying an additional 50,983 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $2,509,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

NYSE OXY opened at $46.95 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum has a 52-week low of $45.17 and a 52-week high of $71.18. The business’s 50-day moving average price is $49.25 and its 200 day moving average price is $52.27. The firm has a market cap of $44.05 billion, a P/E ratio of 12.23 and a beta of 1.55.

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.