Wednesday, January 27, 2021

why Occidental Petroleum Corporation [OXY] is a Good Choice for Investors After New Price Target of $16.23

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Occidental Petroleum Corporation [NYSE: OXY] loss -2.38% on the last trading session, reaching $20.08 price per share at the time. The company report on December 21, 2020 that Occidental Announces Early Tender Results and Further Upsize in Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes.

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Occidental (NYSE: OXY) announced the early tender results of its offers to purchase for cash (collectively, the “Tender Offers” and each a “Tender Offer”) its outstanding 2.600% Senior Notes due 2021 (the “2.600% 2021 Notes”), 3.125% Senior Notes due 2022 (the “3.125% 2022 Notes”), 2.600% Senior Notes due 2022 (the “2.600% 2022 Notes”), 2.700% Senior Notes due 2022 (the “2.700% 2022 Notes”) and 2.70% Senior Notes due 2023 (the “2.70% 2023 Notes” and, together with the 2.600% 2021 Notes, 3.125% 2022 Notes, 2.600% 2022 Notes and 2.700% 2022 Notes, the “Notes”). In connection therewith, Occidental further announced that it is increasing the maximum aggregate purchase price of Notes it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the “Maximum Aggregate Purchase Price”), from the previously announced amount of $2 billion to $2.3 billion. The maximum aggregate purchase price to be paid by Occidental for the 2.70% 2023 Notes, excluding accrued but unpaid interest, is limited to $500 million (the “Sub-Cap”).


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The Tender Offers and Consent Solicitations (as defined below) are being made pursuant to the terms and subject to the conditions described in Occidental’s Offer to Purchase and Consent Solicitation Statement, dated December 7, 2020, as amended by a press release issued by Occidental on December 8, 2020, and as further amended by this press release (the “Offer to Purchase”). Capitalized terms used but not defined herein have the meanings ascribed thereto in the Offer to Purchase.

Occidental Petroleum Corporation represents 929.30 million in outstanding shares, while the company has a total market value of $19.15 billion with the latest information. OXY stock price has been found in the range of $19.87 to $21.03.

If compared to the average trading volume of 26.88M shares, OXY reached a trading volume of 18237719 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $16.23 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 3.10. 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.

Evercore ISI have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as In-line, with their previous recommendation back on December 17, 2020. The new note on the price target was released on December 15, 2020, representing the official price target for Occidental Petroleum Corporation stock. On December 01, 2020, analysts increased their price target for OXY shares from 10 to 12.

The Average True Range (ATR) for Occidental Petroleum Corporation is set at 1.23, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 0.95. The Price to Book ratio for the last quarter was 1.85, with the Price to Cash per share for the same quarter was set at 1.99. Price to Free Cash Flow for OXY in the course of the last twelve months was 25.30 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for OXY stock

Occidental Petroleum Corporation [OXY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.00. With this latest performance, OXY shares gained by 4.97% in over the last four-week period, additionally plugging by 20.17% over the last 6 months – not to mention a drop of -55.74% 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 62.72, with the RSI for the last a single of trading hit 64.28, and the three-weeks RSI is set at 62.20 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 15.63, while it was recorded at 19.46 for the last single week of trading, and 14.58 for the last 200 days.

Occidental Petroleum Corporation [OXY]: A deeper dive into fundamental analysis

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 0.90 and a Current Ratio set at 1.00.

Occidental Petroleum Corporation [OXY]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Occidental Petroleum Corporation posted -0.3/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -57.90%. 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 -13.86%.

An analysis of insider ownership at Occidental Petroleum Corporation [OXY]

There are presently around $12,449 million, or 68.90% of OXY stock, in the hands of institutional investors. The top three institutional holders of OXY stocks are: DODGE & COX with ownership of 121,309,016, which is approximately -1.915% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 92,874,215 shares of the stock with an approximate value of $1.86 billion in OXY stocks shares; and ICAHN CARL C, currently with $1.78 billion in OXY stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Occidental Petroleum Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 228 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 40,254,388 shares. Additionally, 433 investors decreased positions by around 56,214,248 shares, while 127 investors held positions by with 523,511,487 shares. The mentioned changes placed institutional holdings at 619,980,123 shares, according to the latest SEC report filing. OXY stock had 74 new institutional investments in for a total of 10,514,058 shares, while 114 institutional investors sold positions of 17,335,366 shares during the same period.

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