Occidental Petroleum Corp. (NYSE:OXY) finished Thursday with an addition of $0.28 to close at $65.88, an upside of 0.43 percent. An average of 8,083,060 shares of common stock have been traded in the last five days. There was a gain of $3.32 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 9,575,095 shares traded, while the 50-day average volume stands at 8,805,336.
OXY stock has increased by 5.58% in the last month. The company shares reached their 1-month lowest point of $61.74 on 08/29/23. 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 $76.11 in 52 weeks. It has reached a new high 7 times so far this year and achieved 4.59% or $2.89 in price. In spite of this, the price is down -13.44% from the 52-week high.
Insider Transactions
OXY stock investors should be aware that Occidental Petroleum Corp. (OXY) stock had its last reported insider trading activity 17 days ago on Sep 12. In this transaction, the insider spent $127,500,000. 10% Owner, OCCIDENTAL PETROLEUM CORP /DE/, disposed of 5,100,000 shares at a price of $25.00 on Sep 12. The insider now owns more than $127,500,000 worth of shares.
Valuation Metrics
Occidental Petroleum Corp. (OXY) has a trailing price-to-earnings (P/E) ratio of 11.19. The stock’s beta is 1.75. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.86, the price-to-book (PB) ratio at 2.84, and the price-to-cash flow ratio at 6.93.
The company has a payout ratio of 4.19%. The company’s most recent quarterly dividend payment was $0.18 a share, without any change from last year. Its latest increase dividend $0.05 reported on Monday February 27 2023.
Financial Health
The quick ratio of Occidental Petroleum Corp. for the three months ended June 29 was 0.73, 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 0.70 and a total debt to equity ratio of 0.72 for the quarter ending June 29. Occidental Petroleum Corp.’s EBITDA margin for the year ending June 29 is 55.98%, while its operating margin for the same period stands at 29.26%. Its gross profit as reported stood at $24.57 billion compared to revenue of $36.63 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Occidental Petroleum Corp.’s return on assets was 9.30%.
Earnings Surprise
For the three-month period that ended June 29, Occidental Petroleum Corp. 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 Corp.’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 Corp. (OXY) price momentum. RSI 9-day as of the close on 28 September was 59.45%, suggesting the stock is Neutral, with historical volatility in this time frame at 28.31%.
As of today, OXY’s price is $64.14 +5.31% or $3.32 from its 5-day moving average. OXY is currently trading +5.19% higher than its 20-day SMA and +8.55% higher than its 100-day SMA. However, the stock’s current price level is +9.51% above the SMA50 and +5.24% above the SMA200.
The stochastic %K and %D were 46.12% and 28.37%, respectively, and the average true range (ATR) was 1.55. With the 14-day stochastic at 65.51% and the average true range at 1.52, the RSI (14) stands at 57.11%. The stock has reached 0.47 on the 9-day MACD Oscillator while the 14-day reading was at -0.10.
Analyst Ratings
Stephens launched coverage on Occidental Petroleum Corp. (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 Corp. (OXY) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell OXY, while 17 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 $85.00, with a median target of $68.00. Taking a look at these predictions, the average price target given by analysts for Occidental Petroleum Corp. (OXY) stock is $69.44.
