Occidental Petroleum (NYSE:OXY) Trading Up 0.8% – Here’s Why

Occidental Petroleum Co. (NYSE:OXY) shares rose 0.8% during trading on Monday . The stock traded as high as $48.00 and last traded at $47.50. Approximately 5,760,759 shares traded hands during trading, a decline of 40% from the average daily volume of 9,585,931 shares. The stock had previously closed at $47.13.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OXY. Susquehanna decreased their target price 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. Citigroup lowered their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Jefferies Financial Group raised their price target on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $62.10.

Occidental Petroleum Trading Up 1.6 %

The business has a fifty day moving average price of $50.03 and a 200-day moving average price of $55.00. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company has a market cap of $44.94 billion, a P/E ratio of 12.47 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is 22.92%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. H&H International Investment LLC increased its position in shares of Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after purchasing an additional 7,680,598 shares during the period. Himalaya Capital Management LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at approximately $92,433,000. Anson Funds Management LP lifted its holdings in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after acquiring an additional 745,050 shares during the period. American Century Companies Inc. boosted its position in shares of Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after acquiring an additional 532,318 shares in the last quarter. Finally, Cooke & Bieler LP increased its stake in Occidental Petroleum by 53.1% in the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after acquiring an additional 503,173 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

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.