Occidental Petroleum Corporation [OXY] Stock trading around $58.71 per share: What’s Next?


Occidental Petroleum Corporation [NYSE: OXY] surged by $0.96 during the normal trading session on Friday and reaching a high of $60.71 during the day while it closed the day at $58.71. The company report on March 23, 2022 that Vicky A. Bailey Elected to Occidental Board of Directors.

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Occidental (NYSE: OXY) announced today that Vicky A. Bailey, President of Anderson Stratton International, LLC (ASI) and a former equity partner of BHMM Energy Services, LLC, has been elected to its Board of Directors, effective March 22, 2022.

Ms. Bailey has more than 35 years of experience within the energy sector. In addition to her role as President of ASI, a strategic consulting and government relations entity, she was a founding partner at BHMM Energy Services, a certified minority-owned energy facility management company contracted to manage the Central Energy Plant at the Indianapolis Airport Midfield Terminal, from 2006 to 2013. Ms. Bailey also served as Assistant Secretary, U.S. Department of Energy for Domestic Policy and International Affairs, from 2001 to 2004. She was a Commissioner on the Federal Energy Regulatory Commission from 1993 to 2000 and a Commissioner of the Indiana Utility Regulatory Commission from 1986 to 1993.

Occidental Petroleum Corporation stock has also gained 4.39% of its value over the past 7 days. However, OXY stock has inclined by 103.50% in the 3 months of the year. Over the past six months meanwhile, it has gained 108.93% and gained 102.52% year-on date.

The market cap for OXY stock reached $53.94 billion, with 936.80 million shares outstanding and 932.03 million shares in the current float. Compared to the average trading volume of 31.49M shares, OXY reached a trading volume of 37682904 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $55.04 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 2.50. 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.

Morgan Stanley have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on March 14, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price from $65 to $80. The new note on the price target was released on March 08, 2022, representing the official price target for Occidental Petroleum Corporation stock. Previously, the target price had yet another drop from $35 to $29, while Wells Fargo kept a Underweight rating on OXY stock. On December 09, 2021, analysts increased their price target for OXY shares from 37 to 39.

The Average True Range (ATR) for Occidental Petroleum Corporation is set at 3.58, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 2.07. The Price to Book ratio for the last quarter was 5.20, with the Price to Cash per share for the same quarter was set at 3.01. Price to Free Cash Flow for OXY in the course of the last twelve months was 7.13 with Quick ratio for the last quarter at 1.00.

OXY stock trade performance evaluation

Occidental Petroleum Corporation [OXY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.39. With this latest performance, OXY shares gained by 50.85% in over the last four-week period, additionally plugging by 108.93% over the last 6 months – not to mention a rise of 111.49% 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 64.00, with the RSI for the last a single of trading hit 61.37, and the three-weeks RSI is set at 65.21 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 45.00, while it was recorded at 59.38 for the last single week of trading, and 33.26 for the last 200 days.

Occidental Petroleum Corporation [OXY]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Occidental Petroleum Corporation [OXY] shares currently have an operating margin of +17.99 and a Gross Margin at +29.29. Occidental Petroleum Corporation’s Net Margin is presently recorded at +10.71.

Return on Equity for this stock inclined to 14.29, with Return on Assets sitting at 3.41.

Occidental Petroleum Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.

Earnings per share (EPS) analysis for Occidental Petroleum Corporation [OXY] stock

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 23.64%.

Occidental Petroleum Corporation [OXY]: Insider Ownership positions

There are presently around $41,054 million, or 75.70% of OXY stock, in the hands of institutional investors. The top three institutional holders of OXY stocks are: DODGE & COX with ownership of 112,531,760, which is approximately -2.402% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 99,516,764 shares of the stock with an approximate value of $5.84 billion in OXY stocks shares; and BLACKROCK INC., currently with $3.5 billion in OXY stock with ownership of nearly 0.846% 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 384 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 57,403,330 shares. Additionally, 346 investors decreased positions by around 34,980,978 shares, while 163 investors held positions by with 606,889,661 shares. The mentioned changes placed institutional holdings at 699,273,969 shares, according to the latest SEC report filing. OXY stock had 143 new institutional investments in for a total of 18,122,329 shares, while 82 institutional investors sold positions of 10,567,735 shares during the same period.