Occidental Petroleum Corporation [OXY] Is Currently -2.21 below its 200 Period Moving Avg: What Does This Mean?

Occidental Petroleum Corporation [NYSE: OXY] price plunged by -2.21 percent to reach at -$1.44. The company report on August 15, 2023 at 4:15 PM that Occidental Enters into Agreement to Acquire Direct Air Capture Technology Innovator Carbon Engineering.

Integration of Occidental’s operations experience and Carbon Engineering’s technology improves cost and capital efficiencies, and enables Occidental to catalyze broader partnerships for DAC deployment.

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A sum of 7903792 shares traded at recent session while its average daily volume was at 9.30M shares. Occidental Petroleum Corporation shares reached a high of $65.90 and dropped to a low of $63.5627 until finishing in the latest session at $63.84.

The one-year OXY stock forecast points to a potential upside of 8.04. The average equity rating for OXY stock is currently 2.50, 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 $69.42 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 2.50. 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.

Stephens have made an estimate for Occidental Petroleum Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 30, 2023.

The Average True Range (ATR) for Occidental Petroleum Corporation is set at 1.46, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 1.76. The Price to Book ratio for the last quarter was 2.77, with the Price to Cash per share for the same quarter was set at 0.56. Price to Free Cash Flow for OXY in the course of the last twelve months was 6.64 with Quick ratio for the last quarter at 0.70.

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 -1.13. With this latest performance, OXY shares gained by 0.17% in over the last four-week period, additionally plugging by 6.65% over the last 6 months – not to mention a drop of -1.19% 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 52.27, with the RSI for the last a single of trading hit 50.19, and the three-weeks RSI is set at 53.28 for Occidental Petroleum Corporation [OXY]. The present Moving Average for the last 50 days of trading for this stock 62.24, while it was recorded at 65.09 for the last single week of trading, and 61.93 for the last 200 days.

Insight into Occidental Petroleum Corporation Fundamentals:

Occidental Petroleum Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.00.

Occidental Petroleum Corporation [OXY] Institutonal Ownership Details

The top three institutional holders of OXY stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in OXY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in OXY stock with ownership which is approximately 5.7381%.

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