Occidental Petroleum (NYSE:OXY) Shares Down 0% – Should You Sell?

Shares of Occidental Petroleum Co. (NYSE:OXY) dropped 0% during trading on Thursday . The stock traded as low as $47.49 and last traded at $48.10. Approximately 5,722,614 shares traded hands during trading, a decline of 40% from the average daily volume of 9,598,572 shares. The stock had previously closed at $48.12.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OXY. Barclays cut their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Truist Financial decreased their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective for the company. Finally, TD Cowen decreased their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.10.

Occidental Petroleum Stock Up 0.2 %

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 firm has a market capitalization of $45.26 billion, a PE ratio of 12.56 and a beta of 1.57. The business’s 50 day moving average price is $49.78 and its 200-day moving average price is $54.75.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.82%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the purchase, the insider now owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the third quarter worth $50,000. Strategic Financial Concepts LLC bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $53,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $87,000. Institutional investors and hedge funds 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.