Occidental Petroleum Co. (NYSE:OXY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Occidental Petroleum Co. (NYSE:OXY) have been given an average rating of “Hold” by the twenty-one research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $62.10.

A number of analysts have recently commented on OXY shares. Barclays dropped their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Bank of America assumed coverage on Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. Citigroup reduced their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Scotiabank cut their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, TD Cowen reduced their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the stock in a transaction dated Tuesday, December 17th. The stock was bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Occidental Petroleum

Hedge funds have recently made changes to their positions in the stock. Gateway Advisory LLC lifted its stake in Occidental Petroleum by 3.9% in the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock valued at $306,000 after buying an additional 184 shares during the last quarter. Segment Wealth Management LLC increased its holdings in shares of Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock worth $205,000 after acquiring an additional 196 shares during the period. Wealth Alliance Advisory Group LLC lifted its position in Occidental Petroleum by 2.2% in the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after purchasing an additional 200 shares during the last quarter. Leavell Investment Management Inc. boosted its stake in Occidental Petroleum by 3.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 200 shares during the period. Finally, Empire Financial Management Company LLC grew its position in Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $51.63 on Wednesday. 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 $48.45 billion, a price-to-earnings ratio of 13.45 and a beta of 1.57. Occidental Petroleum has a one year low of $45.17 and a one year high of $71.18. The company has a 50 day moving average price of $49.47 and a 200 day moving average price of $54.01.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.70%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

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.