For Occidental Petroleum Corporation [OXY], Analyst sees a rise to $74. What next?


Occidental Petroleum Corporation [NYSE: OXY] gained 2.55% or 1.43 points to close at $57.52 with a heavy trading volume of 45278268 shares. The company report on May 23, 2022 that Occidental Announces Tender Results and Upsize of Cash Tender Offers for Certain of its Senior Notes.

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Occidental (NYSE: OXY) today announced the tender results of its offers to purchase for cash (each, an “Offer” and collectively, the “Offers”) its outstanding notes listed in the tables below (the “Notes,” and each, a “Series” of Notes) in three separate pools (each, a “Pool”). The Offers were made on the terms and subject to the conditions set forth in the Offer to Purchase dated May 16, 2022 (the “Offer to Purchase”). In connection therewith, Occidental further announced that it is increasing (a) the maximum aggregate purchase price of the Pool 1 Notes (as defined below) it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the “Pool 1 Maximum Purchase Price”), from the previously announced amount of $700,000,000 to $725,000,000; (b) the maximum aggregate purchase price of the Pool 2 Notes (as defined below) it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the “Pool 2 Maximum Purchase Price”), from the previously announced amount of $650,000,000 to $790,000,000; and (c) the maximum aggregate purchase price of the Pool 3 Notes (as defined below) it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the “Pool 3 Maximum Purchase Price”), from the previously announced amount of $650,000,000 to $2,250,000,000. Capitalized terms used in this release but not otherwise defined have the meaning given in the Offer to Purchase.

The Offers expired at 5:00 p.m., New York City time, on May 20, 2022 (such time and date, the “Expiration Time”).

It opened the trading session at $57.82, the shares rose to $59.93 and dropped to $56.80, the range by which the price of stock traded the whole day. The daily chart for OXY points out that the company has recorded 98.89% gains over the past six months. However, it is still -166.05% lower than its most recent low trading price.

If we look at the average trading volume of 28.62M shares, OXY reached to a volume of 45278268 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 $77.17 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 2.40. 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 June 07, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $44 to $88. The new note on the price target was released on April 07, 2022, representing the official price target for Occidental Petroleum Corporation stock. Previously, the target price had yet another raise to $84, while Stifel analysts kept a Buy rating on OXY stock.

The Average True Range (ATR) for Occidental Petroleum Corporation is set at 3.42, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 1.80. The Price to Book ratio for the last quarter was 3.56, with the Price to Cash per share for the same quarter was set at 2.09. Price to Free Cash Flow for OXY in the course of the last twelve months was 5.59 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 1.25. With this latest performance, OXY shares dropped by -11.60% in over the last four-week period, additionally plugging by 98.89% over the last 6 months – not to mention a rise of 81.22% 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 41.10, with the RSI for the last a single of trading hit 38.62, and the three-weeks RSI is set at 44.09 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 62.11, while it was recorded at 56.59 for the last single week of trading, and 43.79 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 23.49%.

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

There are presently around $43,405 million, or 81.50% of OXY stock, in the hands of institutional investors. The top three institutional holders of OXY stocks are: BERKSHIRE HATHAWAY INC with ownership of 136,373,000, which is approximately New of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 101,902,647 shares of the stock with an approximate value of $5.86 billion in OXY stocks shares; and DODGE & COX, currently with $5.79 billion in OXY stock with ownership of nearly -10.506% 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 528 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 200,605,514 shares. Additionally, 395 investors decreased positions by around 142,538,127 shares, while 141 investors held positions by with 411,471,467 shares. The mentioned changes placed institutional holdings at 754,615,108 shares, according to the latest SEC report filing. OXY stock had 257 new institutional investments in for a total of 153,285,349 shares, while 89 institutional investors sold positions of 60,255,810 shares during the same period.