Occidental Petroleum Corp. [NYSE: OXY] gained 1.18% or 0.72 points to close at $61.52 with a heavy trading volume of 6693636 shares. The company report on February 14, 2024 at 4:15 PM that Occidental Announces Fourth Quarter 2023 Results.
The company will hold a conference call to discuss the results on Thursday, February 15, 2024, 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/10184763/fb26da1968. A recording of the webcast will be posted on the Investor Relations section of the company’s website within several hours after the call is completed.
The daily chart for OXY points out that the company has recorded -5.76% loss over the past six months.
If we look at the average trading volume of 9.98M shares, OXY reached to a volume of 6693636 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 Corp. [OXY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OXY shares is $66.72 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 2.44. 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 Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 03, 2024. The new note on the price target was released on December 11, 2023, representing the official price target for Occidental Petroleum Corp. stock.
The Average True Range (ATR) for Occidental Petroleum Corp. is set at 1.07, with the Price to Sales ratio for OXY stock in the period of the last 12 months amounting to 1.91. The Price to Book ratio for the last quarter was 2.46, with the Price to Cash per share for the same quarter was set at 1.65. Price to Free Cash Flow for OXY in the course of the last twelve months was 8.96 with Quick ratio for the last quarter at 0.69.
Trading performance analysis for OXY stock
Occidental Petroleum Corp. [OXY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.38. With this latest performance, OXY shares gained by 5.98% in over the last four-week period, additionally sinking by -5.76% over the last 6 months – not to mention a rise of 1.59% 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 62.62, with the RSI for the last a single of trading hit 65.45, and the three-weeks RSI is set at 59.73 for Occidental Petroleum Corp. [OXY]. The present Moving Average for the last 50 days of trading for this stock 58.78, while it was recorded at 61.01 for the last single week of trading, and 60.73 for the last 200 days.
Occidental Petroleum Corp. [OXY]: A deeper dive into fundamental analysis
Occidental Petroleum Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.69 and a Current Ratio set at 0.92.
Occidental Petroleum Corp. [OXY]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Occidental Petroleum Corp. posted 1.09/share EPS, while the average EPS was predicted by analysts to be reported at 1.24/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -12.10%. 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 Corp. go to 8.60%.
An analysis of Institutional ownership at Occidental Petroleum Corp. [OXY]
The top three institutional holders of OXY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OXY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OXY stock with ownership which is approximately 5.8325%.
