Occidental Petroleum (NYSE:OXY) Price Target Raised to $58.00 at Truist Financial

Occidental Petroleum (NYSE:OXY) had its price objective lifted by Truist Financial from $56.00 to $58.00 in a research note released on Monday,Benzinga reports. The firm currently has a hold rating on the oil and gas producer’s stock.

Several other research firms also recently issued reports on OXY. Evercore ISI reduced their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Stephens raised their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Mizuho dropped their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Scotiabank lowered their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Sunday, January 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.19.

Occidental Petroleum Trading Up 2.8 %

Shares of NYSE OXY opened at $52.74 on Monday. Occidental Petroleum has a 1-year low of $45.17 and a 1-year high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average of $49.59 and a two-hundred day moving average of $53.69. The company has a market cap of $49.49 billion, a PE ratio of 13.73 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.67%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. H&H International Investment LLC grew 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 in the last quarter. Himalaya Capital Management LLC bought a new position in shares of Occidental Petroleum in the 2nd quarter valued at about $92,433,000. Anson Funds Management LP increased its position in shares of Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after acquiring an additional 745,050 shares during the last quarter. Geode Capital Management LLC raised its holdings in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after acquiring an additional 444,850 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Occidental Petroleum during the third quarter valued at approximately $18,554,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.