Wall Street Analyst Downgrade Occidental Petroleum Corporation [OXY]. What else is Wall St. saying

Occidental Petroleum Corporation [NYSE: OXY] loss -0.51% on the last trading session, reaching $58.18 price per share at the time. The company report on March 7, 2023 that 1PointFive and the Houston Astros announce Direct Air Capture Carbon Removal Credit Agreement.

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.

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Occidental Petroleum Corporation represents 905.80 million in outstanding shares, while the company has a total market value of $52.64 billion with the latest information. OXY stock price has been found in the range of $57.0288 to $58.60.

If compared to the average trading volume of 13.46M shares, OXY reached a trading volume of 13579038 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 $72.08 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 2.07, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 1.43. The Price to Book ratio for the last quarter was 2.59, with the Price to Cash per share for the same quarter was set at 1.09. Price to Free Cash Flow for OXY in the course of the last twelve months was 4.73 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 -0.51. With this latest performance, OXY shares dropped by -1.76% in over the last four-week period, additionally sinking by -5.98% over the last 6 months – not to mention a drop of -2.77% 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 42.96, with the RSI for the last a single of trading hit 42.16, and the three-weeks RSI is set at 43.53 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 62.05, while it was recorded at 58.91 for the last single week of trading, and 64.44 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 +36.64 and a Gross Margin at +47.03. Occidental Petroleum Corporation’s Net Margin is presently recorded at +36.47.

Return on Total Capital for OXY is now 26.16, given the latest momentum, and Return on Invested Capital for the company is 26.24. Return on Equity for this stock inclined to 52.45, with Return on Assets sitting at 17.26. When it comes to the capital structure of this company, Occidental Petroleum Corporation [OXY] has a Total Debt to Total Equity ratio set at 69.02. Additionally, OXY Total Debt to Total Capital is recorded at 40.84, with Total Debt to Total Assets ending up at 27.78. Long-Term Debt to Equity for the company is recorded at 100.02, with the Long-Term Debt to Total Capital now at 39.97.

Reflecting on the efficiency of the workforce at the company, Occidental Petroleum Corporation [OXY] managed to generate an average of $1,104,235 per employee. Receivables Turnover for the company is 8.17 with a Total Asset Turnover recorded at a value of 0.47.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 12.87%.

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

There are presently around $41,940 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 $5.41 billion in OXY stocks shares; and VANGUARD GROUP INC, currently with $3.56 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 594 institutional holders increased their position in Occidental Petroleum Corporation [NYSE:OXY] by around 34,612,040 shares. Additionally, 500 investors decreased positions by around 52,783,967 shares, while 181 investors held positions by with 633,462,087 shares. The mentioned changes placed institutional holdings at 720,858,094 shares, according to the latest SEC report filing. OXY stock had 186 new institutional investments in for a total of 10,069,530 shares, while 108 institutional investors sold positions of 6,744,981 shares during the same period.


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