Occidental Petroleum Corporation [OXY] gain 90.03% so far this year. What now?


Occidental Petroleum Corporation [NYSE: OXY] plunged by -$1.94 during the normal trading session on Friday and reaching a high of $57.72 during the day while it closed the day at $55.09. The company report on April 25, 2022 that Enterprise and Oxy Low Carbon Ventures Sign Letter of Intent for Gulf Coast CO2 Transportation and Sequestration Project.

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Enterprise Products Operating LLC (“Enterprise”), a subsidiary of Enterprise Products Partners L.P. (NYSE: EPD), and Oxy Low Carbon Ventures, LLC (“OLCV”), a subsidiary of Occidental (NYSE: OXY), today announced they have executed a letter of intent to work toward a potential carbon dioxide (“CO2”) transportation and sequestration solution for the Texas Gulf Coast. The joint project would initially be focused on providing services to emitters in the industrial corridors from the greater Houston to Beaumont/Port Arthur areas. The initiative would combine Enterprise’s leadership position in the midstream energy sector with OLCV’s extensive experience in subsurface characterization and CO2 sequestration.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220425005930/en/.

Occidental Petroleum Corporation stock has also loss -2.70% of its value over the past 7 days. However, OXY stock has inclined by 46.63% in the 3 months of the year. Over the past six months meanwhile, it has gained 62.84% and gained 90.03% year-on date.

The market cap for OXY stock reached $53.43 billion, with 936.80 million shares outstanding and 935.25 million shares in the current float. Compared to the average trading volume of 34.81M shares, OXY reached a trading volume of 19164165 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 $71.13 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.

Piper Sandler have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 07, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on April 06, 2022, representing the official price target for Occidental Petroleum Corporation stock. Previously, the target price had yet another raise to $52, while Morgan Stanley analysts kept a Equal-Weight rating on OXY stock. On March 08, 2022, analysts increased their price target for OXY shares from 65 to 80.

The Average True Range (ATR) for Occidental Petroleum Corporation is set at 3.15, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 2.05. The Price to Book ratio for the last quarter was 4.88, with the Price to Cash per share for the same quarter was set at 2.85. Price to Free Cash Flow for OXY in the course of the last twelve months was 7.06 with Quick ratio for the last quarter at 1.00.

OXY stock trade performance evaluation

Occidental Petroleum Corporation [OXY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.70. With this latest performance, OXY shares dropped by -4.16% in over the last four-week period, additionally plugging by 62.84% over the last 6 months – not to mention a rise of 117.23% 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 45.92, with the RSI for the last a single of trading hit 40.96, and the three-weeks RSI is set at 49.76 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 54.44, while it was recorded at 55.49 for the last single week of trading, and 36.59 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 18.43%.

Occidental Petroleum Corporation [OXY]: Insider Ownership positions

There are presently around $37,312 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 $5.48 billion in OXY stocks shares; and BLACKROCK INC., currently with $3.28 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 May and at the time of the May reporting period, where 405 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 57,014,644 shares. Additionally, 381 investors decreased positions by around 54,881,094 shares, while 148 investors held positions by with 565,403,925 shares. The mentioned changes placed institutional holdings at 677,299,663 shares, according to the latest SEC report filing. OXY stock had 163 new institutional investments in for a total of 18,191,393 shares, while 92 institutional investors sold positions of 10,735,656 shares during the same period.