Occidental Petroleum (NYSE:OXY) Stock Price Down 0.1% – Time to Sell?

Occidental Petroleum Co. (NYSE:OXY) shares were down 0.1% on Monday . The stock traded as low as $49.19 and last traded at $49.24. Approximately 3,226,700 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 9,610,364 shares. The stock had previously closed at $49.29.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stephens increased their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Truist Financial upped their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Wolfe Research lifted their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Bank of America started coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $62.19.

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 firm has a fifty day moving average of $49.63 and a two-hundred day moving average of $52.84. The company has a market capitalization of $45.89 billion, a PE ratio of 12.74 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares in the company, valued at $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 at this link. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently modified their holdings of the stock. Portfolio Design Labs LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth about $209,000. Stonebridge Financial Group LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $75,000. Silicon Valley Capital Partners boosted its position in shares of Occidental Petroleum by 23.2% during the fourth quarter. Silicon Valley Capital Partners now owns 17,294 shares of the oil and gas producer’s stock valued at $855,000 after purchasing an additional 3,260 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in Occidental Petroleum in the fourth quarter worth $68,000. Finally, Savant Capital LLC raised its holdings in Occidental Petroleum by 3.6% in the fourth quarter. Savant Capital LLC now owns 24,407 shares of the oil and gas producer’s stock worth $1,206,000 after purchasing an additional 840 shares in the last quarter. 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.