The stock of Occidental Petroleum Corporation (NYSE:OXY) decreased by -$0.78 on Friday to finish at $65.06, down -1.18 percent. The last five days have seen an average of 9,188,576 shares of common stock traded. 7 times new highs were reached in the current year, with a gain of $1.98. The average number of shares traded over the last 20 days was 9,129,850, while the average volume over the last 50 days totaled 9,935,344.
OXY stock appreciated 9.57% since last month. On 07/17/23, the company’s shares reached a one-month low of $58.97. The stock touched a high of $77.13 on 01/27/23, after rallying from a low of $55.51 in 52 weeks. The price of OXY stock has risen by 3.29% or $1.98 this year, reaching a new high 7 times. Still, the stock price is down -15.65% from the 52-week high.
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Insider Transactions
OXY stock investors should be aware that Occidental Petroleum Corporation (OXY) stock had its last reported insider trading activity 47 days ago on Jun 28. On Jun 28, 10% Owner BERKSHIRE HATHAWAY INC acquired 260,769 shares at $57.02 each. This transaction resulted in the insider spending $14,869,048. On Jun 27, BERKSHIRE HATHAWAY INC added 1,239,180 shares at a price of US$57.17. After the transaction, the insider now owns 223,868,423 shares. 10% Owner BERKSHIRE HATHAWAY INC had earlier bought 638,301 shares on Jun 26 for $57.01 a share. The transaction was completed for $36,392,285.
Valuation Metrics
Occidental Petroleum Corporation (OXY) has a trailing price-to-earnings (P/E) ratio of 10.99. Beta for the stock is 1.78. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.76, the price-to-book (PB) ratio of 2.82, and the price-to-cash flow ratio of 6.63.
Company paid $0.18 per share in dividends, remained unchanged from $0.18 last year.
Financial Health
For the three months ended June 29, Occidental Petroleum Corporation’s quick ratio was 0.70, while its current ratio was 1.00, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.96, and the total debt to equity ratio is 0.97. As far as profitability goes, gross margin for the trailing twelve months is 63.70% percent. Occidental Petroleum Corporation’s EBITDA margin for the year ended June 29 was 55.98%, whereas its operating margin stood at 29.10% for the same period. Based on annual data, it had gross profit of $24.57 billion and revenue of $36.63 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. OXY’s return on assets (ROA) during the last 12 months has been 8.20%. There was a 32.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 29.20%.
Earnings Surprise
According to Occidental Petroleum Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $6.7 billion, while revenues fell by -59.3% to $7.22 billion. It was predicted that Occidental Petroleum Corporation’s quarterly earnings would be $0.68, but it ended up being $0.72, beating the consensus by -5.60%. EBITDA was $3.29 billion for the quarter. At the end of Occidental Petroleum Corporation’s most recent quarter ended June 29, its liabilities totaled 42.09 billion, while its total debt was $20.69 billion. Equity owned by shareholders amounts to $884.68 million.
Technical Picture
Here’s a quick look at Occidental Petroleum Corporation’s (OXY) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 65.76%, suggesting the stock is Neutral, with a 23.82% historical volatility rate.
The stochastic %K and %D were 84.24% and 81.03% respectively, while the average true range (ATR) was 1.53. Based on the 14-day stochastic reading of 82.40%, the RSI (14) reading is 64.42%. On the 9-day MACD Oscillator, the stock is at 1.16, and the 14-day reading is at 1.58.
Analyst Ratings
In its analyst report released on June 30, 2023, Stephens began covering Occidental Petroleum Corporation (NYSE: OXY). The stock was rated as an Overweight by the brokerage firm. Analysts have assigned Occidental Petroleum Corporation (OXY) an Overweight rating. OXY is a stock that is recommended for selling by 1 brokerage firm, while 16 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 10 others recommend it as a buy.
What is OXY’s price target for the next 12 months?
The current consensus forecast for the stock is between $57.00 and $80.00, with a median target price of $66.50. In analyzing these forecasts, the average price target given by analysts for Occidental Petroleum Corporation (OXY) is $66.88.
