Occidental Petroleum Corporation [OXY] Stock trading around $69.80 per share: What’s Next?

Occidental Petroleum Corporation [NYSE: OXY] price plunged by -0.99 percent to reach at -$0.7. The company report on October 6, 2022 that Occidental to Announce Third Quarter Results Tuesday, November 8, 2022; Hold Conference Call Wednesday, November 9, 2022.


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Occidental (NYSE: OXY) will announce its third quarter 2022 financial results after close of market on Tuesday, November 8, 2022, and will hold a conference call to discuss results on Wednesday, November 9, 2022, at 1 p.m. Eastern/12 p.m. Central.

The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call at https://dpregister.com/sreg/10170398/f410bb9e66.

A sum of 29025863 shares traded at recent session while its average daily volume was at 24.49M shares. Occidental Petroleum Corporation shares reached a high of $72.04 and dropped to a low of $69.06 until finishing in the latest session at $69.80.

The one-year OXY stock forecast points to a potential upside of 6.53. The average equity rating for OXY stock is currently 2.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $74.68 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 2.65, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 1.94. The Price to Book ratio for the last quarter was 3.63, with the Price to Cash per share for the same quarter was set at 1.45. Price to Free Cash Flow for OXY in the course of the last twelve months was 6.06 with Quick ratio for the last quarter at 0.90.

OXY Stock Performance Analysis:

Occidental Petroleum Corporation [OXY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.59. With this latest performance, OXY shares gained by 8.03% in over the last four-week period, additionally plugging by 21.01% over the last 6 months – not to mention a rise of 114.90% 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 61.68, with the RSI for the last a single of trading hit 68.51, and the three-weeks RSI is set at 58.08 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 65.63, while it was recorded at 67.65 for the last single week of trading, and 55.94 for the last 200 days.

Insight into Occidental Petroleum Corporation 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 0.90 and a Current Ratio set at 1.10.

OXY Stock EPS

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%.

Occidental Petroleum Corporation [OXY] Insider Position Details

There are presently around $51,773 million, or 83.00% 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 $6.87 billion in OXY stocks shares; and VANGUARD GROUP INC, currently with $5.62 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 November and at the time of the November reporting period, where 565 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 68,205,681 shares. Additionally, 406 investors decreased positions by around 99,349,311 shares, while 165 investors held positions by with 574,175,347 shares. The mentioned changes placed institutional holdings at 741,730,339 shares, according to the latest SEC report filing. OXY stock had 176 new institutional investments in for a total of 6,949,533 shares, while 96 institutional investors sold positions of 9,926,215 shares during the same period.

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