Occidental Petroleum Corporation [NYSE: OXY] price plunged by -2.74 percent to reach at -$0.76. The company report on March 26, 2021 that NextDecade, Oxy Low Carbon Ventures Sign Term Sheet for CO2 Transportation and Storage in South Texas.
NextDecade Corporation (NextDecade) (NASDAQ: NEXT), a clean energy company accelerating the path to a net-zero future, and Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental (NYSE: OXY) and global leader in carbon dioxide (CO2) management, today announced that they have executed a term sheet for the offtake and permanent geologic storage of CO2 captured from NextDecade’s planned Rio Grande LNG project in the Port of Brownsville, Texas.
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Earlier this month, NextDecade announced the formation of NEXT Carbon Solutions, a wholly owned subsidiary that is expected to – among other things – develop one of the largest carbon capture and storage (CCS) projects in North America at Rio Grande LNG. NEXT Carbon Solutions’ CCS project at Rio Grande LNG is expected to enable the capture and permanent geologic storage of more than five million tonnes of CO2 per year.
A sum of 13871546 shares traded at recent session while its average daily volume was at 20.79M shares. Occidental Petroleum Corporation shares reached a high of $27.335 and dropped to a low of $26.36 until finishing in the latest session at $27.00.
The one-year OXY stock forecast points to a potential upside of 1.42. The average equity rating for OXY stock is currently 2.90, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $27.39 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 2.90. 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.
Goldman have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 23, 2021. While these analysts kept the previous recommendation, Wolfe Research raised their target price from $16 to $30. The new note on the price target was released on March 11, 2021, representing the official price target for Occidental Petroleum Corporation stock. Previously, the target price had yet another raise from $29 to $31, while BofA Securities kept a Buy rating on OXY stock.
The Average True Range (ATR) for Occidental Petroleum Corporation is set at 1.64, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 1.35. The Price to Book ratio for the last quarter was 2.86, with the Price to Cash per share for the same quarter was set at 2.24. Price to Free Cash Flow for OXY in the course of the last twelve months was 8.52 with Quick ratio for the last quarter at 0.80.
OXY Stock Performance Analysis:
Occidental Petroleum Corporation [OXY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.68. With this latest performance, OXY shares gained by 1.47% in over the last four-week period, additionally plugging by 164.19% over the last 6 months – not to mention a rise of 132.56% 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 48.79, with the RSI for the last a single of trading hit 45.49, and the three-weeks RSI is set at 51.46 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 25.71, while it was recorded at 27.02 for the last single week of trading, and 17.49 for the last 200 days.
Insight into Occidental Petroleum Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Occidental Petroleum Corporation [OXY] shares currently have an operating margin of -11.26 and a Gross Margin at +2.57. Occidental Petroleum Corporation’s Net Margin is presently recorded at -78.96.
Return on Total Capital for OXY is now -2.97, given the latest momentum, and Return on Invested Capital for the company is -21.05. Return on Equity for this stock declined to -51.26, with Return on Assets sitting at -13.72. When it comes to the capital structure of this company, Occidental Petroleum Corporation [OXY] has a Total Debt to Total Equity ratio set at 200.82. Additionally, OXY Total Debt to Total Capital is recorded at 66.76, with Total Debt to Total Assets ending up at 44.22. Long-Term Debt to Equity for the company is recorded at 412.96, with the Long-Term Debt to Total Capital now at 65.12.
Reflecting on the efficiency of the workforce at the company, Occidental Petroleum Corporation [OXY] managed to generate an average of -$1,146,864 per employee. Receivables Turnover for the company is 3.95 with a Total Asset Turnover recorded at a value of 0.17.Occidental Petroleum Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.10.
OXY Stock EPS
With the latest financial reports released by the company, Occidental Petroleum Corporation posted -0.52/share EPS, while the average EPS was predicted by analysts to be reported at -0.63/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.50%. 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 -5.15%.
Occidental Petroleum Corporation [OXY] Insider Position Details
There are presently around $16,945 million, or 69.80% of OXY stock, in the hands of institutional investors. The top three institutional holders of OXY stocks are: DODGE & COX with ownership of 120,216,247, which is approximately -0.901% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 97,574,968 shares of the stock with an approximate value of $2.63 billion in OXY stocks shares; and ICAHN CARL C, currently with $2.39 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 February and at the time of the February reporting period, where 279 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 50,012,956 shares. Additionally, 407 investors decreased positions by around 42,762,975 shares, while 112 investors held positions by with 534,823,787 shares. The mentioned changes placed institutional holdings at 627,599,718 shares, according to the latest SEC report filing. OXY stock had 120 new institutional investments in for a total of 18,830,625 shares, while 105 institutional investors sold positions of 9,240,976 shares during the same period.