As of Wednesday close, Occidental Petroleum Corporation’s (NYSE:OXY) stock was down -$1.0, moving down -1.57 percent to $62.55. The average number of shares traded per day over the past five days has been 9,668,540 shares. 2 times new highs have been achieved over the past 5 days, with a -$1.26 fall in that time frame. In the last twenty days, the average volume was 9,228,620, while in the previous 50 days, it was 9,879,186.
Since last month, OXY stock rose 4.11%. Shares of the company fell to $58.97 on 07/17/23, the lowest level in the past month. A 52-week high of $77.13 was reached on 01/27/23 after having rallying from a 52-week low of $55.51. Since the beginning of this year, OXY’s stock price has dropped by -0.70% or -$0.44, and marked a new high 7 times. However, the stock has declined by -18.90% 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 50 days ago on Jun 28. BERKSHIRE HATHAWAY INC, the 10% Owner of the company, purchased of 260,769 shares for $57.02 on Jun 28. It resulted in a $14,869,048 investment by the insider. BERKSHIRE HATHAWAY INC added 1,239,180 shares at an average price of $57.17 on Jun 27. The insider now owns 223,868,423 shares following the transaction. On Jun 26, 10% Owner BERKSHIRE HATHAWAY INC bought 638,301 shares at $57.01 apiece. The transaction was valued at $36,392,285.
Valuation Metrics
Right now, Occidental Petroleum Corporation (OXY) has a P/E ratio of about 10.56. The stock’s beta is 1.78. Besides these, the trailing price-to-sales (P/S) ratio of 1.69, the price-to-book (PB) ratio of 2.71, and the price-to-cash flow ratio of 6.37 may also be considered.
The latest dividend of $0.18 per share was paid out, remained unchanged from last year’s $0.18.
Financial Health
In the three months ended June 29, Occidental Petroleum Corporation’s quick ratio stood at 0.70, while its current ratio was 1.00, 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 June 29 was 0.96, and the total debt-to-equity ratio was 0.97. On the profitability front, the trailing twelve-month gross margin is 63.70% percent. In the year ended June 29, EBITDA margin amounted to 55.98%, whereas operating margins totaled 29.10%. Based on annual data, OXY earned $24.57 billion in gross profit and brought in $36.63 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 32.20%. Return on equity (ROE) for the past 12 months was 29.20%.
In Occidental Petroleum Corporation’s quarter-end financial report for June 29, it reported total debt of $19.67 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 fell -59.3% to $7.22 billion during the quarter, while net income inched up to $6.7 billion. While analysts expected Occidental Petroleum Corporation to report $0.72 quarterly earnings, the actual figure was $0.68 per share, beating the consensus estimate by -5.60%. During the quarter, the company generated $3.29 billion in EBITDA. The liabilities of Occidental Petroleum Corporation were 42.09 billion at the end of its most recent quarter ended June 29, and its total debt was $20.69 billion. The value of shareholders’ equity is $884.68 million.
Technical Picture
This quick technical analysis looks at Occidental Petroleum Corporation’s (OXY) price momentum. With a historical volatility rate of 26.45%, the RSI 9-day stood at 46.15% on 16 August.
With respect to its five-day moving average, the current Occidental Petroleum Corporation price is down by -1.97% percent or -$1.26. At present, OXY shares trade +3.97% above its 20-day simple moving average and +6.96% percent above its 100-day simple moving average. However, the stock is currently trading approximately +5.30% above its SMA50 and -12.97% below its SMA200.
Stochastic coefficient K was 61.83% and Stochastic coefficient D was 75.66%, while ATR was 1.58. Given the Stochastic reading of 42.04% for the 14-day period, the RSI (14) reading has been calculated as 50.92%. As of today, the MACD Oscillator reading stands at -0.24, while the 14-day reading stands at 0.36.
Analyst Ratings
Stephens launched its rating on Occidental Petroleum Corporation (NYSE: OXY) to an Overweight in a note to investors on June 30, 2023. Occidental Petroleum Corporation (OXY) has been rated Overweight by analysts. According to 1 brokerage firm, OXY is a sell, and 16 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Occidental Petroleum Corporation stock as buy, with 10 recommending it as overweight.
With a median target price of $66.50, the current consensus forecast for the stock is $57.00 – $80.00. Based on these forecasts, analysts predict Occidental Petroleum Corporation (OXY) will achieve an average price target of $67.17.
