Occidental Petroleum Co. (NYSE:OXYGet Free Report) reached a new 52-week low on Friday . The stock traded as low as $43.78 and last traded at $43.88, with a volume of 24958091 shares changing hands. The stock had previously closed at $49.33.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OXY. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. Mizuho cut their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Roth Capital set a $54.00 price target on Occidental Petroleum in a report on Thursday, January 23rd. Stephens reissued an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Finally, Truist Financial raised their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.82.

View Our Latest Analysis on Occidental Petroleum

Occidental Petroleum Trading Down 7.4 %

The company has a fifty day simple moving average of $47.88 and a two-hundred day simple moving average of $49.71. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $38.20 billion, a PE ratio of 16.66 and a beta of 1.51.

Occidental Petroleum (NYSE:OXYGet Free Report) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum in the 4th quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $27,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $27,000. Bernard Wealth Management Corp. acquired a new position in Occidental Petroleum in the 4th quarter valued at about $32,000. Finally, Atala Financial Inc purchased a new stake in Occidental Petroleum during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

(Get Free Report)

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.

Further Reading

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