Occidental Petroleum Corporation [OXY] Is Currently 1.89 below its 200 Period Moving Avg: What Does This Mean?

Occidental Petroleum Corporation [NYSE: OXY] gained 1.89% or 1.24 points to close at $66.91 with a heavy trading volume of 12391980 shares. The company report on January 20, 2023 that Claire O’Neill Elected to Occidental Board of Directors.

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Ms. O’Neill’s appointment increases the size of the Board from eight to nine directors. She will serve on the Board’s Corporate Governance and Nominating Committee and Sustainability and Shareholder Engagement Committee.

It opened the trading session at $66.12, the shares rose to $67.11 and dropped to $65.425, the range by which the price of stock traded the whole day. The daily chart for OXY points out that the company has recorded 7.92% gains over the past six months. However, it is still -113.29% lower than its most recent low trading price.

If we look at the average trading volume of 12.95M shares, OXY reached to a volume of 12391980 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 $76.12 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 2.60. 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.

Mizuho have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 10, 2023. The new note on the price target was released on January 06, 2023, representing the official price target for Occidental Petroleum Corporation stock. Previously, the target price had yet another raise from $59 to $74, while Wells Fargo kept a Equal Weight rating on OXY stock. On November 11, 2022, analysts decreased their price target for OXY shares from 78 to 76.

The Average True Range (ATR) for Occidental Petroleum Corporation is set at 2.05, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 1.64. The Price to Book ratio for the last quarter was 3.25, with the Price to Cash per share for the same quarter was set at 1.38. Price to Free Cash Flow for OXY in the course of the last twelve months was 5.35 with Quick ratio for the last quarter at 0.90.

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 1.78. With this latest performance, OXY shares gained by 7.21% in over the last four-week period, additionally plugging by 7.92% over the last 6 months – not to mention a rise of 86.74% 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 59.50, with the RSI for the last a single of trading hit 67.42, and the three-weeks RSI is set at 54.86 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 66.30, while it was recorded at 65.41 for the last single week of trading, and 64.56 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 25.75%.

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

There are presently around $48,169 million, or 79.40% of OXY stock, in the hands of institutional investors. The top three institutional holders of OXY stocks are: BERKSHIRE HATHAWAY INC with ownership of 194,351,650, which is approximately 22.581% of the company’s market cap and around 0.18% of the total institutional ownership; DODGE & COX, holding 94,978,388 shares of the stock with an approximate value of $6.36 billion in OXY stocks shares; and VANGUARD GROUP INC, currently with $4.14 billion in OXY stock with ownership of nearly -23.284% of the company’s market capitalization.

Positions in Occidental Petroleum Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 563 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 64,066,960 shares. Additionally, 481 investors decreased positions by around 105,046,416 shares, while 172 investors held positions by with 550,799,317 shares. The mentioned changes placed institutional holdings at 719,912,693 shares, according to the latest SEC report filing. OXY stock had 178 new institutional investments in for a total of 11,986,661 shares, while 100 institutional investors sold positions of 8,893,334 shares during the same period.

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