Occidental Petroleum Corporation [NYSE: OXY] stock went on a downward path that fall over -1.16% on Friday, amounting to a one-week price decrease of less than -2.27%. The company report on March 7, 2023 that 1PointFive and the Houston Astros announce Direct Air Capture Carbon Removal Credit Agreement.
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DAC is a technology that captures and removes large volumes of CO2 directly from the atmosphere, which can be safely and securely stored deep underground in geologic formations. For this agreement with the Astros, CO2 captured by DAC will be sequestered in saline reservoirs not associated with oil and gas production. DAC provides a practical solution for hard-to-decarbonize activities, such as air travel, to help achieve climate goals. Over the next three years, the Astros will utilize the removal credits across a number of activities throughout the ballpark as they work towards a carbon neutral footprint.
Over the last 12 months, OXY stock rose by 4.10%. The one-year Occidental Petroleum Corporation stock forecast points to a potential upside of 17.96. The average equity rating for OXY stock is currently 2.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $54.51 billion, with 905.80 million shares outstanding and 890.86 million shares in the current float. Compared to the average trading volume of 12.46M shares, OXY stock reached a trading volume of 14504709 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $72.96 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.
Evercore ISI have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on February 22, 2023. The new note on the price target was released on February 14, 2023, representing the official price target for Occidental Petroleum Corporation stock. Previously, the target price had yet another raise from $81 to $82, while Mizuho kept a Buy rating on OXY stock.
The Average True Range (ATR) for Occidental Petroleum Corporation is set at 1.95, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 1.48. The Price to Book ratio for the last quarter was 2.67, with the Price to Cash per share for the same quarter was set at 1.08. Price to Free Cash Flow for OXY in the course of the last twelve months was 4.90 with Quick ratio for the last quarter at 0.90.
OXY Stock Performance Analysis:
Occidental Petroleum Corporation [OXY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.27. With this latest performance, OXY shares dropped by -6.37% in over the last four-week period, additionally sinking by -7.35% over the last 6 months – not to mention a rise of 4.10% 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 43.58, with the RSI for the last a single of trading hit 42.79, and the three-weeks RSI is set at 44.16 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 62.84, while it was recorded at 61.02 for the last single week of trading, and 64.95 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 +36.64 and a Gross Margin at +47.03. Occidental Petroleum Corporation’s Net Margin is presently recorded at +36.47.
Return on Equity for this stock inclined to 52.45, with Return on Assets sitting at 17.26.
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 25.75%.
Occidental Petroleum Corporation [OXY] Insider Position Details
There are presently around $43,150 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 0% of the company’s market cap and around 0.21% of the total institutional ownership; DODGE & COX, holding 92,957,224 shares of the stock with an approximate value of $5.56 billion in OXY stocks shares; and VANGUARD GROUP INC, currently with $3.66 billion in OXY stock with ownership of nearly -1.075% of the company’s market capitalization.
Positions in Occidental Petroleum Corporation stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 595 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 34,617,581 shares. Additionally, 498 investors decreased positions by around 52,777,298 shares, while 181 investors held positions by with 633,461,717 shares. The mentioned changes placed institutional holdings at 720,856,596 shares, according to the latest SEC report filing. OXY stock had 187 new institutional investments in for a total of 10,075,494 shares, while 107 institutional investors sold positions of 6,739,017 shares during the same period.