Occidental Petroleum Corporation (OXY): A Technical View


As of Wednesday close, Occidental Petroleum Corporation’s (NYSE:OXY) stock was down -$1.65, moving down -2.27 percent to $71.12. The average number of shares traded per day over the past five days has been 15,573,960 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.81 fall in that time frame. In the last twenty days, the average volume was 15,975,960, while in the previous 50 days, it was 19,730,193.

Since last month, OXY stock rose 0.04%. Shares of the company fell to $66.77 on 11/21/22, the lowest level in the past month. A 52-week high of $77.13 was reached on 08/29/22 after having rallying from a 52-week low of $26.05. Since the beginning of this year, OXY’s stock price has risen by 145.33% or $42.13, and marked a new high 36 times. However, the stock has declined by -7.79% since its 52-week high.

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OXY stock investors should be aware that Occidental Petroleum Corporation (OXY) stock had its last reported insider trading activity 58 days ago on Sep 28. BERKSHIRE HATHAWAY INC, the 10% Owner of the company, purchased of 1,737,316 shares for $60.71 on Sep 28. It resulted in a $105,478,912 investment by the insider. BERKSHIRE HATHAWAY INC added 2,705,798 shares at an average price of $58.29 on Sep 27. The insider now owns 192,614,334 shares following the transaction. On Sep 26, 10% Owner BERKSHIRE HATHAWAY INC bought 1,542,076 shares at $57.91 apiece. The transaction was valued at $89,304,088.

Valuation Metrics

Right now, Occidental Petroleum Corporation (OXY) has a P/E ratio of about 5.89. The stock’s beta is 1.84. Besides these, the trailing price-to-sales (P/S) ratio of 1.78, the price-to-book (PB) ratio of 3.46, and the price-to-cash flow ratio of 5.81 may also be considered.

The latest dividend of $0.13 per share was paid out, remained unchanged from last year’s $0.13. On Thursday February 24 2022, a $0.12 dividend increase was announced.

Financial Health

In the three months ended September 29, Occidental Petroleum Corporation’s quick ratio stood at 0.90, while its current ratio was 1.10, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 1.08, and the total debt-to-equity ratio was 1.11. On the profitability front, the trailing twelve-month gross margin is 67.70% percent. In the year ended September 29, operating margins totaled 37.10%. Based on annual data, OXY earned $16.3 billion in gross profit and brought in $25.96 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 8.60%. Return on equity (ROE) for the past 12 months was 77.20%.

In Occidental Petroleum Corporation’s quarter-end financial report for September 29, it reported total debt of $20.48 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. OXY’s revenue rose 27.67% to $10.68 billion during the quarter, while net income inched up to $9.39 billion. While analysts expected Occidental Petroleum Corporation to report $2.46 quarterly earnings, the actual figure was $2.44 per share, beating the consensus estimate by -0.80%. During the quarter, the company generated $5.64 billion in EBITDA. The liabilities of Occidental Petroleum Corporation were 43.42 billion at the end of its most recent quarter ended September 29, and its total debt was $21.67 billion. The value of shareholders’ equity is $908.91 million.

Technical Picture

This quick technical analysis looks at Occidental Petroleum Corporation’s (OXY) price momentum. With a historical volatility rate of 46.01%, the RSI 9-day stood at 48.12% on 23 November.

With respect to its five-day moving average, the current Occidental Petroleum Corporation price is down by -1.13% percent or -$0.81. At present, OXY shares trade -1.93% below its 20-day simple moving average and +20.32% percent above its 100-day simple moving average. However, the stock is currently trading approximately +5.83% above its SMA50 and +80.74% above its SMA200.

Stochastic coefficient K was 47.00% and Stochastic coefficient D was 45.05%, while ATR was 3.11. Given the Stochastic reading of 46.57% for the 14-day period, the RSI (14) reading has been calculated as 50.12%. As of today, the MACD Oscillator reading stands at -1.08, while the 14-day reading stands at -1.17.

Analyst Ratings

Wells Fargo upgraded its rating on Occidental Petroleum Corporation (NYSE: OXY) to an Equal weight in a note to investors on November 14, 2022. The analysts firm previously had an Underweight rating on the stock.Occidental Petroleum Corporation (OXY) has been rated Hold by analysts. According to 1 brokerage firm, OXY is a sell, and 17 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 2 analysts rate Occidental Petroleum Corporation stock as buy, with 7 recommending it as overweight.

With a median target price of $75.00, the current consensus forecast for the stock is $60.00 – $100.00. Based on these forecasts, analysts predict Occidental Petroleum Corporation (OXY) will achieve an average price target of $77.40.


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