Occidental Petroleum Corporation [NYSE: OXY] loss -5.09% on the last trading session, reaching $58.73 price per share at the time. The company report on August 25, 2022 that Occidental, 1PointFive to Begin Construction of World’s Largest Direct Air Capture Plant in the Texas Permian Basin.
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Plant will advance large-scale carbon capture to help Oxy and others reduce emissions and accelerate their respective paths to net zero.
Captured carbon can be safely and securely sequestered in saline formations or used to produce low carbon products.
Occidental Petroleum Corporation represents 939.20 million in outstanding shares, while the company has a total market value of $57.64 billion with the latest information. OXY stock price has been found in the range of $58.04 to $60.07.
If compared to the average trading volume of 25.67M shares, OXY reached a trading volume of 29550855 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 $76.74 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 2.70. 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.
Citigroup have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 12, 2022. The new note on the price target was released on August 19, 2022, representing the official price target for Occidental Petroleum Corporation stock. Previously, the target price had yet another raise to $65, while MKM Partners analysts kept a Neutral rating on OXY stock.
The Average True Range (ATR) for Occidental Petroleum Corporation is set at 2.91, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 1.70. The Price to Book ratio for the last quarter was 3.05, with the Price to Cash per share for the same quarter was set at 1.39. Price to Free Cash Flow for OXY in the course of the last twelve months was 5.32 with Quick ratio for the last quarter at 0.90.
Trading performance analysis for OXY stock
Occidental Petroleum Corporation [OXY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.82. With this latest performance, OXY shares dropped by -21.60% in over the last four-week period, additionally plugging by 1.70% over the last 6 months – not to mention a rise of 110.05% 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 33.27, with the RSI for the last a single of trading hit 24.29, and the three-weeks RSI is set at 39.00 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 65.24, while it was recorded at 62.45 for the last single week of trading, and 54.20 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 0.90 and a Current Ratio set at 1.10.
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 38.18%.
An analysis of insider ownership at Occidental Petroleum Corporation [OXY]
There are presently around $43,589 million, or 79.80% of OXY stock, in the hands of institutional investors. The top three institutional holders of OXY stocks are: BERKSHIRE HATHAWAY INC with ownership of 158,549,729, which is approximately 16.262% of the company’s market cap and around 0.10% of the total institutional ownership; DODGE & COX, holding 98,421,141 shares of the stock with an approximate value of $5.78 billion in OXY stocks shares; and VANGUARD GROUP INC, currently with $4.73 billion in OXY stock with ownership of nearly -20.929% of the company’s market capitalization.
Positions in Occidental Petroleum Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 558 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 68,169,142 shares. Additionally, 415 investors decreased positions by around 100,213,599 shares, while 170 investors held positions by with 573,809,182 shares. The mentioned changes placed institutional holdings at 742,191,923 shares, according to the latest SEC report filing. OXY stock had 174 new institutional investments in for a total of 6,960,560 shares, while 97 institutional investors sold positions of 9,921,911 shares during the same period.