In yesterday’s Wall Street session, Occidental Petroleum Corporation (NYSE:OXY) shares traded at $69.59, down -2.33% from the previous session.
As of this writing, 27 analysts cover Occidental Petroleum Corporation (NYSE:OXY). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $100.00 and a low of $60.00, we find $75.00. Given the previous closing price of $71.25, this indicates a potential upside of 5.26 percent. OXY stock price is now 2.31% away from the 50-day moving average and 13.23% away from the 200-day moving average. The market capitalization of the company currently stands at $63.44B.
There are 17 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $76.38 as their price target over the next twelve months.
With the price target enhanced from $59 to $74, Wells Fargo Upgraded its rating from Underweight to Equal Weight for Occidental Petroleum Corporation (NYSE: OXY). On November 11, 2022, Piper Sandler Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $78 to quote $76, while ‘Citigroup’ rates the stock as ‘Neutral’.
In other news, BERKSHIRE HATHAWAY INC, 10% Owner bought 1,737,316 shares of the company’s stock on Sep 28. The stock was bought for $105,478,912 at an average price of $60.71. Upon completion of the transaction, the 10% Owner now directly owns 194,351,650 shares in the company, valued at $13.52 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 27, 10% Owner BERKSHIRE HATHAWAY INC bought 2,705,798 shares of the business’s stock. A total of $157,709,330 was incurred on buying the stock at an average price of $58.29. This leaves the insider owning 192,614,334 shares of the company worth $13.4 billion. Insiders disposed of 330,295 shares of company stock worth roughly $22.99 million over the past 1 year. A total of 0.18% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OXY stock. A new stake in Occidental Petroleum Corporation shares was purchased by HRT FINANCIAL LP during the first quarter worth $132,154,000. POINT72 ASSET MANAGEMENT, L.P. invested $109,437,000 in shares of OXY during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT LLC acquired a new stake in Occidental Petroleum Corporation valued at approximately $78,443,000. LAURION CAPITAL MANAGEMENT LP acquired a new stake in OXY for approximately $63,385,000. MARSHALL WACE, LLP purchased a new stake in OXY valued at around $45,668,000 in the second quarter. In total, there are 1,379 active investors with 79.50% ownership of the company’s stock.
Monday morning saw Occidental Petroleum Corporation (NYSE: OXY) opened at $69.11. During the past 12 months, Occidental Petroleum Corporation has had a low of $26.05 and a high of $77.13. As of last week, the company has a debt-to-equity ratio of 1.11, a current ratio of 1.10, and a quick ratio of 0.90. The fifty day moving average price for OXY is $68.02 and a two-hundred day moving average price translates $61.46 for the stock.
The latest earnings results from Occidental Petroleum Corporation (NYSE: OXY) was released for Jun, 2022. According to the Oil & Gas E&P Company, earnings per share came in at $3.16, beating analysts’ expectations of $3.02 by 0.14. This compares to $0.00 EPS in the same period last year. The net profit margin was 33.20% and return on equity was 77.20% for OXY. The company reported revenue of $9.39 billion for the quarter, compared to $6.79 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 38.25 percent. For the current quarter, analysts expect OXY to generate $9.5B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/17/2022. Investors who held shares on 09/12/2022 were paid a $0.13 dividend. On an annualized basis, this represents a $0.52 dividend and a 0.75% percent yield. There was an ex-dividend date of 09/09/2022 for this dividend. In terms of dividend payout ratio, OXY is presently at 3.10%.
Occidental Petroleum Corporation(OXY) 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, Africa, and Latin America. 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. Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity; and invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.