Occidental Petroleum (NYSE:OXY) Cut to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Occidental Petroleum (NYSE:OXY) from a neutral rating to a sell rating in a research report report published on Friday, Marketbeat Ratings reports. The Goldman Sachs Group currently has $45.00 target price on the oil and gas producer’s stock, down from their previous target price of $54.00.

A number of other equities analysts have also weighed in on the stock. BMO Capital Markets lowered their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Truist Financial upped their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Raymond James upped their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Mizuho lowered their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.71.

Occidental Petroleum Stock Down 4.6 %

Shares of NYSE:OXY opened at $46.65 on Friday. The firm’s 50 day moving average price is $49.43 and its 200 day moving average price is $52.61. The stock has a market cap of $43.78 billion, a price-to-earnings ratio of 12.15 and a beta of 1.57. Occidental Petroleum has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The stock was bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Large investors have recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum during the third quarter worth approximately $32,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Occidental Petroleum during the third quarter worth approximately $50,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $59,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $68,000. 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.