why Occidental Petroleum Corporation [OXY] is a Good Choice for Investors After New Price Target of $71.13



Occidental Petroleum Corporation [NYSE: OXY] gained 4.25% or 2.65 points to close at $64.94 with a heavy trading volume of 30774151 shares. The company report on May 6, 2022 that Occidental Announces Dividend.

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Occidental (NYSE: OXY) announced today that its Board of Directors has declared a regular quarterly dividend of $0.13 per share on common stock payable on July 15, 2022, to stockholders of record as of June 10, 2022.

It opened the trading session at $63.23, the shares rose to $64.98 and dropped to $61.45, the range by which the price of stock traded the whole day. The daily chart for OXY points out that the company has recorded 92.41% gains over the past six months. However, it is still -200.37% lower than its most recent low trading price.

If we look at the average trading volume of 35.68M shares, OXY reached to a volume of 30774151 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 $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 3.27, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 5.76, with the Price to Cash per share for the same quarter was set at 3.08. Price to Free Cash Flow for OXY in the course of the last twelve months was 7.72 with Quick ratio for the last quarter at 1.00.

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 17.88. With this latest performance, OXY shares gained by 15.76% in over the last four-week period, additionally plugging by 92.41% over the last 6 months – not to mention a rise of 137.09% 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 65.81, with the RSI for the last a single of trading hit 71.31, and the three-weeks RSI is set at 63.62 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 56.66, while it was recorded at 61.27 for the last single week of trading, and 37.47 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 +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.

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

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%.

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

There are presently around $43,969 million, or 85.00% 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 $6.46 billion in OXY stocks shares; and BLACKROCK INC., currently with $3.87 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 428 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 57,229,299 shares. Additionally, 380 investors decreased positions by around 55,596,607 shares, while 153 investors held positions by with 564,248,598 shares. The mentioned changes placed institutional holdings at 677,074,504 shares, according to the latest SEC report filing. OXY stock had 175 new institutional investments in for a total of 18,133,685 shares, while 96 institutional investors sold positions of 10,223,520 shares during the same period.