StockNews.com Upgrades Occidental Petroleum (NYSE:OXY) to Hold

Occidental Petroleum (NYSE:OXY) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Several other equities research analysts also recently issued reports on the company. UBS Group cut their price target on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Susquehanna decreased their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Wells Fargo & Company decreased their target price on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Truist Financial lifted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday. Finally, The Goldman Sachs Group began coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.19.

Occidental Petroleum Stock Down 1.1 %

Shares of OXY stock opened at $52.11 on Wednesday. Occidental Petroleum has a 52-week low of $45.17 and a 52-week high of $71.18. 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 stock has a market cap of $48.90 billion, a price-to-earnings ratio of 13.57 and a beta of 1.57. The firm’s 50-day moving average is $49.62 and its 200-day moving average is $53.61.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The stock was acquired 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 owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

A number of hedge funds have recently bought and sold shares of OXY. H&H International Investment LLC lifted its position in 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 valued at $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC bought a new position in Occidental Petroleum during the 2nd quarter valued at approximately $92,433,000. Anson Funds Management LP grew its position in shares of Occidental Petroleum by 3,645.8% in 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 buying an additional 745,050 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after acquiring an additional 444,850 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Occidental Petroleum in the 3rd quarter worth $18,554,000. Institutional investors 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.