Stocks of Occidental Petroleum Corporation (NYSE:OXY) traded higher last session on Wall Street, up 1.44% to $64.07.
According to the data, Occidental Petroleum Corporation (NYSE:OXY) has 28 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $80.00 and a low of $57.00, we find $66.50. Given the previous closing price of $63.16, this indicates a potential upside of 5.29 percent. OXY stock price is now 5.87% away from the 50-day moving average and 2.27% away from the 200-day moving average. The market capitalization of the company currently stands at $55.88B.
A total of 16 analysts have issued a hold rating and 10 have given it a buy rating. Brokers who have rated the stock have averaged $67.75 as their price target over the next twelve months.
With the price target of $72, Stephens recently initiated with Overweight rating for Occidental Petroleum Corporation (NYSE: OXY).
In other news, BERKSHIRE HATHAWAY INC, 10% Owner bought 260,769 shares of the company’s stock on Jun 28. The stock was bought for $14,869,048 at an average price of $57.02. Upon completion of the transaction, the 10% Owner now directly owns 224,129,192 shares in the company, valued at $14.36 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 27, 10% Owner BERKSHIRE HATHAWAY INC bought 1,239,180 shares of the business’s stock. A total of $70,843,177 was incurred on buying the stock at an average price of $57.17. This leaves the insider owning 223,868,423 shares of the company worth $14.34 billion. Insiders disposed of 222,430 shares of company stock worth roughly $14.25 million over the past 1 year. A total of 0.28% 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 ANSON FUNDS MANAGEMENT LP during the first quarter worth $24,667,000. CMT CAPITAL MARKETS TRADING GMBH invested $20,045,000 in shares of OXY during the first quarter. In the first quarter, DISCOVERY CAPITAL MANAGEMENT, LLC / CT acquired a new stake in Occidental Petroleum Corporation valued at approximately $17,526,000. POINT72 MIDDLE EAST FZE acquired a new stake in OXY for approximately $17,322,000. LONGBOW FINANCE SA purchased a new stake in OXY valued at around $16,508,000 in the second quarter.
Friday’s opening bell rang with an opening price of $62.47 for Occidental Petroleum Corporation (NYSE: OXY). During the past 12 months, Occidental Petroleum Corporation has had a low of $55.51 and a high of $77.13. As of last week, the company has a debt-to-equity ratio of 0.97, a current ratio of 1.00, and a quick ratio of 0.70. The fifty day moving average price for OXY is $60.60 and a two-hundred day moving average price translates $62.60 for the stock.
The latest earnings results from Occidental Petroleum Corporation (NYSE: OXY) was released for Jun, 2023. The net profit margin was 18.50% and return on equity was 29.20% for OXY. The company reported revenue of $6.7 billion for the quarter, compared to $10.68 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -37.22 percent.
Moreover, the firm recently paid out its quarterly dividend on 10/13/2023. Investors who held shares on 09/08/2023 were paid a $0.18 dividend. On an annualized basis, this represents a $0.72 dividend and a 1.12% percent yield. There was an ex-dividend date of 09/07/2023 for this dividend. In terms of dividend payout ratio, OXY is presently at 9.60%.
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, North 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; and 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.
