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Occidental Petroleum Corp. (OXY) Analysis & Forecast for 2024

Occidental Petroleum Corp. (NYSE: OXY) is -10.82% lower on its value in year-to-date trading and has touched a low of $49.75 and a high of $71.18 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 $51.54 in the last trading session, with the day’s gains setting it 1.71%.

Currently trading at $53.25, the stock is 2.49% and -4.31% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 27.75 million and changing 3.32% at the moment leaves the stock -11.64% off its SMA200. OXY registered -17.93% loss for a year compared to 6-month loss of -20.83%. The firm has a 50-day simple moving average (SMA 50) of $55.4892 and a 200-day simple moving average (SMA200) of $60.24545.

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The stock witnessed a -6.55% gain in the last 1 month and extending the period to 3 months gives it a -14.61%, and is 1.62% up 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 3.11% over the week and 2.41% over the month.

Occidental Petroleum Corp. (OXY) has around 12570 employees, a market worth around $48.22B and $27.70B in sales. Current P/E ratio is 13.13 and Fwd P/E is 13.80. Profit margin for the company is 13.98%. Distance from 52-week low is 7.04% and -25.19% from its 52-week high. The company has generated returns on investments over the last 12 months (7.57%).

The EPS is expected to shrink by -6.25% this year.

Occidental Petroleum Corp. (OXY) Top Institutional Holders

1590.0 institutions hold shares in Occidental Petroleum Corp. (OXY), with institutional investors hold 69.20% of the company’s shares. The shares outstanding are 905.62M, and float is at 903.02M with Short Float at 3.42%. Institutions hold 50.13% of the Float.

The top institutional shareholder in the company is BERKSHIRE HATHAWAY INC with over 255.28 million shares valued at $16.09 billion. The investor’s holdings represent 28.8747% of the OXY Shares outstanding. As of 2024-06-30, the second largest holder is DODGE & COX with 78.36 million shares valued at $4.94 billion to account for 8.8634 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 56.09 million shares representing 6.3442% and valued at over $3.54 billion, while STATE STREET CORP holds 4.7385 of the shares totaling 41.89 million with a market value of $2.65 billion.

Occidental Petroleum Corp. (OXY) Insider Activity

The most recent transaction is an insider sale by OCCIDENTAL PETROLEUM CORP /DE/, the company’s 10% Owner. SEC filings show that OCCIDENTAL PETROLEUM CORP /DE/ sold 19,500,000 shares of the company’s common stock on Aug 14 ’24 at a price of $35.75 per share for a total of $697.12 million. Following the sale, the insider now owns 165.68 million shares.

Occidental Petroleum Corp. disclosed in a document filed with the SEC on Aug 14 ’24 that OCCIDENTAL PETROLEUM CORP /DE/ (10% Owner) sold a total of 19,500,000 shares of the company’s common stock. The trade occurred on Aug 14 ’24 and was made at $35.75 per share for $697.12 million. Following the transaction, the insider now directly holds 165.68 million shares of the OXY stock.

Still, SEC filings show that on Jun 13 ’24, BERKSHIRE HATHAWAY INC (10% Owner) acquired 1,552,497 shares at an average price of $59.77 for $92.79 million. The insider now directly holds 253,886,410 shares of Occidental Petroleum Corp. (OXY).

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