Occidental Petroleum Corporation [OXY] Stock trading around $13.91 per share: What’s Next?

Occidental Petroleum Corporation [NYSE: OXY] traded at a low on 08/17/20, posting a -4.99 loss after which it closed the day’ session at $13.91. The company report on August 12, 2020 that Occidental Announces Upsize of Previously Announced Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes.

Occidental (NYSE: OXY) today announced that, in connection with its offers to purchase for cash (collectively, the “Tender Offers” and each a “Tender Offer”) the outstanding senior notes listed in the table below and Consent Solicitations (as defined below), it is increasing (i) the maximum aggregate purchase price of Notes (as defined below) it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the “Maximum Aggregate Purchase Price”), from the previously announced amount of $1,500 million to $3,000 million and (ii) the maximum aggregate purchase price of 2022 Notes (as defined below) it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the “2022 Notes Sub-Cap”), from the previously announced amount of $200 million to $700 million. Additionally, Occidental announced that it is conditioning its obligation to accept for purchase and to pay for any of the Notes in the Tender Offers on the completion by Occidental of a registered offering (the “Concurrent Offering”) of senior unsecured debt securities that results in net proceeds of at least $2,950 million, an increase from the previously announced condition that required such Concurrent Offering to result in net proceeds of at least $1,475 million, on terms and subject to conditions reasonably satisfactory to Occidental (as amended herein, the “Financing Condition”).

The Tender Offers are being made upon the terms and conditions described in Occidental’s Offer to Purchase and Consent Solicitation Statement, dated August 12, 2020 (the “Offer to Purchase”), as amended by this press release.

The results of the trading session contributed to over 30866071 shares changing hands. Over the past one week, the price volatility of Occidental Petroleum Corporation stands at 5.73% while the volatility over the past one month is 4.81%.

The market cap for OXY stock reached $12.90 billion, with 930.14 million shares outstanding and 927.60 million shares in the current float. Compared to the average trading volume of 33.72M shares, OXY reached a trading volume of 30866071 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Occidental Petroleum Corporation [OXY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OXY shares is $16.05 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OXY stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 13, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Underperform. The new note on the price target was released on August 05, 2020, representing the official price target for Occidental Petroleum Corporation stock. Previously, the target price had yet another raise to $25, while SunTrust analysts kept a Buy rating on OXY stock.

The Average True Range (ATR) for Occidental Petroleum Corporation is set at 0.84, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 0.60. The Price to Book ratio for the last quarter was 0.94, with the Price to Cash per share for the same quarter was set at 1.09.

How has OXY stock performed recently?

Occidental Petroleum Corporation [OXY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.59. With this latest performance, OXY shares dropped by -14.56% in over the last four-week period, additionally sinking by -66.53% over the last 6 months – not to mention a drop of -68.79% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OXY stock in for the last two-week period is set at 33.11, with the RSI for the last a single of trading hit 30.35, and the three-weeks RSI is set at 39.82 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 17.38, while it was recorded at 14.65 for the last single week of trading, and 26.06 for the last 200 days.

Occidental Petroleum Corporation [OXY]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Occidental Petroleum Corporation [OXY] shares currently have an operating margin of +5.98 and a Gross Margin at +22.10. Occidental Petroleum Corporation’s Net Margin is presently recorded at -3.49.

Return on Total Capital for OXY is now 2.11, given the latest momentum, and Return on Invested Capital for the company is -1.24. Return on Equity for this stock declined to -2.35, with Return on Assets sitting at -0.83. When it comes to the capital structure of this company, Occidental Petroleum Corporation [OXY] has a Total Debt to Total Equity ratio set at 116.88. Additionally, OXY Total Debt to Total Capital is recorded at 53.89, with Total Debt to Total Assets ending up at 35.42. Long-Term Debt to Equity for the company is recorded at 160.98, with the Long-Term Debt to Total Capital now at 53.06.

Reflecting on the efficiency of the workforce at the company, Occidental Petroleum Corporation [OXY] managed to generate an average of -$45,278 per employee. Receivables Turnover for the company is 3.27 with a Total Asset Turnover recorded at a value of 0.24.Occidental Petroleum Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.90.

Earnings analysis for Occidental Petroleum Corporation [OXY]

With the latest financial reports released by the company, Occidental Petroleum Corporation posted 0.11/share EPS, while the average EPS was predicted by analysts to be reported at 0.37/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -70.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OXY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Occidental Petroleum Corporation go to -14.63%.

Insider trade positions for Occidental Petroleum Corporation [OXY]

There are presently around $9,014 million, or 75.60% of OXY stock, in the hands of institutional investors. The top three institutional holders of OXY stocks are: DODGE & COX with ownership of 123,677,174, which is approximately 4.933% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 103,610,730 shares of the stock with an approximate value of $1.44 billion in OXY stocks shares; and ICAHN CARL C, currently with $1.23 billion in OXY stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Occidental Petroleum Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 279 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 57,607,457 shares. Additionally, 514 investors decreased positions by around 109,783,165 shares, while 117 investors held positions by with 480,650,845 shares. The mentioned changes placed institutional holdings at 648,041,467 shares, according to the latest SEC report filing. OXY stock had 89 new institutional investments in for a total of 5,411,164 shares, while 170 institutional investors sold positions of 34,520,247 shares during the same period.

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