Occidental Petroleum Corporation [NYSE: OXY] traded at a high on 11/02/20, posting a 5.70 gain after which it closed the day’ session at $9.65. The company report on October 12, 2020 that Occidental to Announce Third Quarter Results Monday, November 9, 2020; Hold Conference Call Tuesday, November 10, 2020.
Occidental (NYSE:OXY) will announce its third quarter 2020 financial results after close of market on Monday, November 9, 2020, and will hold a conference call to discuss results on Tuesday, November 10, 2020, at 11 a.m. Eastern/10 a.m. Central.
The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call at https://dpregister.com/sreg/10148716/da8fcfddc0.
The results of the trading session contributed to over 28420390 shares changing hands. Over the past one week, the price volatility of Occidental Petroleum Corporation stands at 5.38% while the volatility over the past one month is 5.08%.
The market cap for OXY stock reached $8.98 billion, with 930.14 million shares outstanding and 927.61 million shares in the current float. Compared to the average trading volume of 24.83M shares, OXY reached a trading volume of 28420390 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 $12.11 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 3.00. 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.
Truist have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 21, 2020. The new note on the price target was released on September 24, 2020, representing the official price target for Occidental Petroleum Corporation stock. Previously, the target price had yet another raise to $17, while MKM Partners analysts kept a Buy rating on OXY stock.
The Average True Range (ATR) for Occidental Petroleum Corporation is set at 0.52, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 0.41. The Price to Book ratio for the last quarter was 0.65, 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] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.01. With this latest performance, OXY shares dropped by -2.23% in over the last four-week period, additionally sinking by -37.01% over the last 6 months – not to mention a drop of -77.18% 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 43.77, with the RSI for the last a single of trading hit 47.46, and the three-weeks RSI is set at 42.45 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 10.83, while it was recorded at 9.21 for the last single week of trading, and 18.08 for the last 200 days.
Occidental Petroleum Corporation [OXY]: Deeper insight into the fundamentals
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.
Insider trade positions for Occidental Petroleum Corporation [OXY]
There are presently around $5,902 million, or 70.40% 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 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 103,610,730 shares of the stock with an approximate value of $945.97 million in OXY stocks shares; and ICAHN CARL C, currently with $809.17 million in OXY stock with ownership of nearly 0% of the company’s market capitalization.
246 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 58,287,514 shares. Additionally, 480 investors decreased positions by around 104,186,613 shares, while 119 investors held positions by with 484,007,644 shares. The mentioned changes placed institutional holdings at 646,481,771 shares, according to the latest SEC report filing. OXY stock had 71 new institutional investments in for a total of 5,622,816 shares, while 145 institutional investors sold positions of 29,679,066 shares during the same period.