Occidental Petroleum Corporation (NYSE:OXY) finished Friday with an addition of $0.49 to close at $61.84, an upside of 0.80 percent. An average of 6,749,000 shares of common stock have been traded in the last five days. There was a fall of -$2.23 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 8,918,220 shares traded, while the 50-day average volume stands at 9,517,612.
OXY stock has decreased by -0.02% in the last month. The company shares reached their 1-month lowest point of $60.03 on 08/03/23. With the stock rallying to its 52-week high on 01/27/23, shares of the company touched a low of $55.51 and a high of $77.13 in 52 weeks. It has reached a new high 7 times so far this year and lost -1.83% or -$1.15 in price. In spite of this, the price is down -19.82% from the 52-week high.
Valuation Metrics
Occidental Petroleum Corporation (OXY) has a trailing price-to-earnings (P/E) ratio of 10.44. The stock’s beta is 1.78. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.70, the price-to-book (PB) ratio at 2.68, and the price-to-cash flow ratio at 6.41.
Financial Health
The quick ratio of Occidental Petroleum Corporation for the three months ended June 29 was 0.70, and the current ratio was 1.00, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.96 and a total debt to equity ratio of 0.97 for the quarter ending June 29. Occidental Petroleum Corporation’s EBITDA margin for the year ending June 29 is 55.98%, while its operating margin for the same period stands at 29.10%. Its gross profit as reported stood at $24.57 billion compared to revenue of $36.63 billion.
Earnings Surprise
For the three-month period that ended June 29, Occidental Petroleum Corporation had $19.67 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $860.0 million in the quarter, while revenues of $1.26 billion were shrunk -336.63%. The analyst consensus anticipated Occidental Petroleum Corporation’s latest quarter earnings to come in at $0.72 per share, but it turned out to be $0.68, a -5.60% surprise. For the quarter, EBITDA amounted to $3.29 billion. Shareholders own equity worth $884.68 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Occidental Petroleum Corporation (OXY) price momentum. RSI 9-day as of the close on 25 August was 42.33%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.72%.
As of today, OXY’s price is $62.33 -3.48% or -$2.23 from its 5-day moving average. OXY is currently trading -0.39% lower than its 20-day SMA and -5.12% lower than its 100-day SMA. However, the stock’s current price level is +5.76% above the SMA50 and -18.60% below the SMA200.
The stochastic %K and %D were 15.93% and 28.11%, respectively, and the average true range (ATR) was 1.50. With the 14-day stochastic at 19.22% and the average true range at 1.48, the RSI (14) stands at 46.86%. The stock has reached -1.11 on the 9-day MACD Oscillator while the 14-day reading was at -1.70.
Analyst Ratings
Stephens launched coverage on Occidental Petroleum Corporation (NYSE: OXY) in its analyst report released on June 30, 2023. The firm assigned the stock an Overweight rating. The consensus rating for Occidental Petroleum Corporation (OXY) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell OXY, while 15 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 10 others rate it as a “buy”.
What is OXY’s price target for the next 12 months?
Analysts predict a range of price targets between $59.00 and $80.00, with a median target of $67.00. Taking a look at these predictions, the average price target given by analysts for Occidental Petroleum Corporation (OXY) stock is $68.29.
