Occidental Petroleum Corporation (NYSE: OXY) is -4.45% lower on its value in year-to-date trading and has touched a low of $51.53 and a high of $77.13 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The OXY stock was last observed hovering at around $59.15 in the last trading session, with the day’s gains setting it 1.04% off its average median price target of $70.50 for the next 12 months. It is also 28.35% off the consensus price target high of $84.00 offered by 28 analysts, but current levels are -0.32% lower than the price target low of $60.00 for the same period.
Currently trading at $60.19, the stock is -1.06% and -4.13% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 16.78 million and changing 1.76% at the moment leaves the stock -7.29% off its SMA200. OXY registered 3.87% gain for a year compared to 6-month loss of -9.90%.
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The stock witnessed a -8.29% gain in the last 1 month and extending the period to 3 months gives it a -3.85%, and is -1.08% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.21% over the week and 3.10% over the month.
Occidental Petroleum Corporation (OXY) has around 11973 employees, a market worth around $54.81B and $36.79B in sales. Current P/E ratio is 4.84 and Fwd P/E is 10.18. Profit margin for the company is 34.00%. Distance from 52-week low is 16.81% and -21.96% from its 52-week high. The company has generated returns on investments over the last 12 months (32.20%).
Occidental Petroleum Corporation (OXY) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Occidental Petroleum Corporation (OXY) is a “Hold”. 28 analysts offering their recommendations for the stock have an average rating of 2.60, where 16 rate it as a Hold and 2 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
Occidental Petroleum Corporation is expected to release its quarterly report on 05/09/2023.The EPS is expected to grow by 501.30% this year.
Occidental Petroleum Corporation (OXY) Top Institutional Holders
The shares outstanding are 905.80M, and float is at 890.86M with Short Float at 5.32%.
Occidental Petroleum Corporation (OXY) Insider Activity
A total of 26 insider transactions have happened at Occidental Petroleum Corporation (OXY) in the last six months, with sales accounting for 8 and purchases happening 18 times. The most recent transaction is an insider purchase by BERKSHIRE HATHAWAY INC,the company’s10% Owner. SEC filings show that BERKSHIRE HATHAWAY INC bought 1,760,686 shares of the company’s common stock on Mar 07 at a price of $61.01 per share for a total of $107.42 million. Following the purchase, the insider now owns 200.15 million shares.
Occidental Petroleum Corporation disclosed in a document filed with the SEC on Mar 06 that BERKSHIRE HATHAWAY INC (10% Owner) bought a total of 1,678,017 shares of the company’s common stock. The trade occurred on Mar 06 and was made at $61.56 per share for $103.29 million. Following the transaction, the insider now directly holds 198.39 million shares of the OXY stock.
Still, SEC filings show that on Mar 03, BERKSHIRE HATHAWAY INC (10% Owner) acquired 2,363,088 shares at an average price of $60.85 for $143.8 million. The insider now directly holds 196,714,738 shares of Occidental Petroleum Corporation (OXY).
Occidental Petroleum Corporation (OXY): Who are the competitors?
The company’s main competitors (and peers) include Chevron Corporation (CVX) that is trading -5.93% down over the past 12 months and EOG Resources Inc. (EOG) that is -1.97% lower over the same period. Pioneer Natural Resources Company (PXD) is -7.65% down on the 1-year trading charts.
