Occidental Petroleum (NYSE:OXY) Upgraded at StockNews.com

StockNews.com upgraded shares of Occidental Petroleum (NYSE:OXY) from a sell rating to a hold rating in a report published on Tuesday morning.

OXY has been the subject of several other reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. Susquehanna decreased their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Bank of America initiated coverage on Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective on the stock. Barclays decreased 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. Finally, Truist Financial upped their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Price Performance

OXY stock opened at $48.87 on Tuesday. The company has a market capitalization of $45.86 billion, a PE ratio of 12.73 and a beta of 1.57. 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 stock’s 50 day moving average is $49.59 and its two-hundred day moving average is $52.81. Occidental Petroleum has a 52-week low of $45.17 and a 52-week high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued 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 dividend payout ratio (DPR) is presently 22.92%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. The trade was 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 through the SEC website. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Several hedge funds have recently made changes to their positions in OXY. AXA S.A. boosted its holdings in Occidental Petroleum by 1.1% during the second quarter. AXA S.A. now owns 31,721 shares of the oil and gas producer’s stock worth $1,999,000 after buying an additional 349 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Occidental Petroleum by 11.5% during the 2nd quarter. AQR Capital Management LLC now owns 80,581 shares of the oil and gas producer’s stock valued at $5,077,000 after acquiring an additional 8,327 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Occidental Petroleum by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 527,412 shares of the oil and gas producer’s stock worth $33,243,000 after acquiring an additional 1,945 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Occidental Petroleum by 4.7% in the 2nd quarter. Ascent Group LLC now owns 8,067 shares of the oil and gas producer’s stock worth $508,000 after acquiring an additional 365 shares during the last quarter. Finally, KGH Ltd acquired a new stake in shares of Occidental Petroleum during the second quarter worth $5,295,000. Institutional investors and hedge funds 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.