Occidental Petroleum (NYSE:OXY) Trading Up 0.3% – What’s Next?

Shares of Occidental Petroleum Co. (NYSE:OXY) were up 0.3% during mid-day trading on Tuesday . The stock traded as high as $47.85 and last traded at $47.41. Approximately 1,851,528 shares traded hands during trading, a decline of 81% from the average daily volume of 9,847,337 shares. The stock had previously closed at $47.26.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stephens reiterated an “overweight” rating and set a $71.00 target price on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Roth Capital set a $54.00 price target on Occidental Petroleum in a research note on Thursday, January 23rd. Finally, UBS Group upped their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.45.

Occidental Petroleum Stock Down 0.6 %

The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average price is $48.88 and its 200-day moving average price is $50.20. The company has a market capitalization of $44.07 billion, a price-to-earnings ratio of 19.24 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is presently 39.34%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Occidental Petroleum

Large investors have recently bought and sold shares of the company. Certified Advisory Corp bought a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $476,000. Rule One Partners LLC bought a new stake in Occidental Petroleum during the third quarter worth $14,199,000. Fisher Asset Management LLC boosted its holdings in shares of Occidental Petroleum by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock valued at $30,320,000 after purchasing an additional 6,461 shares in the last quarter. Sarasin & Partners LLP raised its holdings 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 worth $48,942,000 after buying an additional 50,983 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth $2,509,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.