The Goldman Sachs Group lowered shares of Occidental Petroleum (NYSE:OXY – Free Report) from a neutral rating to a sell rating in a research note 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 prior target price of $54.00.
OXY has been the topic of a number of other reports. Raymond James raised their target price on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Mizuho lowered their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler lowered their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Susquehanna lowered their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Finally, Wells Fargo & Company lowered their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $61.71.
View Our Latest Stock Report on Occidental Petroleum
Occidental Petroleum Stock Performance
Occidental Petroleum Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.89%. Occidental Petroleum’s dividend payout ratio is 22.92%.
Insider Activity
In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of Occidental Petroleum stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the acquisition, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Occidental Petroleum
Several institutional investors and hedge funds have recently added to or reduced their stakes in OXY. AQR Capital Management LLC lifted its holdings in Occidental Petroleum by 11.5% in the 2nd quarter. AQR Capital Management LLC now owns 80,581 shares of the oil and gas producer’s stock worth $5,077,000 after purchasing an additional 8,327 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Occidental Petroleum by 87.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,754 shares of the oil and gas producer’s stock worth $142,000 after buying an additional 1,287 shares during the period. Czech National Bank increased its position in Occidental Petroleum by 8.3% in the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after buying an additional 10,456 shares during the period. Regency Capital Management Inc. DE bought a new position in Occidental Petroleum in the 3rd quarter worth approximately $392,000. Finally, Chemistry Wealth Management LLC increased its position in Occidental Petroleum by 0.9% in the 3rd quarter. Chemistry Wealth Management LLC now owns 35,974 shares of the oil and gas producer’s stock worth $1,854,000 after buying an additional 313 shares during the period. 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.
See Also
- Five stocks we like better than Occidental Petroleum
- Investing in the High PE Growth Stocks
- 3 Stocks to Gain From Trump’s Return-to-Office Mandate
- How to Short a Stock in 5 Easy StepsÂ
- Crane Stock Soars, But the Best Could Be Yet to Come: Here’s Why
- What Are Dividends? Buy the Best Dividend Stocks
- ServiceNow Stock Slips, But AI Expansion Signals Long-Term Gains
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.