In yesterday’s Wall Street session, Occidental Petroleum Corporation (NYSE:OXY) shares traded at $58.92, up 1.34% from the previous session.
As of this writing, 28 analysts cover Occidental Petroleum Corporation (NYSE:OXY). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $85.00 and a low of $55.00, we find $68.00. Given the previous closing price of $58.14, this indicates a potential upside of 16.96 percent. OXY stock price is now -3.29% away from the 50-day moving average and -8.83% away from the 200-day moving average. The market capitalization of the company currently stands at $52.77B.
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There are 16 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $69.50 as their price target over the next twelve months.
With the price target of $68, UBS recently initiated with Neutral rating for Occidental Petroleum Corporation (NYSE: OXY). On March 28, 2023, TD Cowen Upgraded its previous ‘Market Perform’ rating to ‘Outperform’ on the stock increasing its target price from $63 to quote $70, while ‘Evercore ISI’ rates the stock as ‘Underperform’.
In other news, BERKSHIRE HATHAWAY INC, 10% Owner bought 993,494 shares of the company’s stock on May 15. The stock was bought for $58,080,752 at an average price of $58.46. Upon completion of the transaction, the 10% Owner now directly owns 213,872,911 shares in the company, valued at $12.6 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On May 12, 10% Owner BERKSHIRE HATHAWAY INC bought 370,062 shares of the business’s stock. A total of $21,440,763 was incurred on buying the stock at an average price of $57.94. This leaves the insider owning 212,879,417 shares of the company worth $12.54 billion. Insiders disposed of 334,359 shares of company stock worth roughly $19.7 million over the past 1 year. A total of 0.23% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OXY stock. A new stake in Occidental Petroleum Corporation shares was purchased by ARCTIS GLOBAL LLC during the first quarter worth $28,158,000. H&H INTERNATIONAL INVESTMENT, LLC invested $23,544,000 in shares of OXY during the first quarter. In the first quarter, TWIN TREE MANAGEMENT, LP acquired a new stake in Occidental Petroleum Corporation valued at approximately $20,545,000. LONGBOW FINANCE SA acquired a new stake in OXY for approximately $15,182,000. BLUECREST CAPITAL MANAGEMENT LTD purchased a new stake in OXY valued at around $14,705,000 in the second quarter. In total, there are 1,507 active investors with 79.40% ownership of the company’s stock.
Wednesday morning saw Occidental Petroleum Corporation (NYSE: OXY) opened at $58.70. During the past 12 months, Occidental Petroleum Corporation has had a low of $54.30 and a high of $77.13. As of last week, the company has a debt-to-equity ratio of 0.97, a current ratio of 1.10, and a quick ratio of 0.80. The fifty day moving average price for OXY is $60.89 and a two-hundred day moving average price translates $64.60 for the stock.
The latest earnings results from Occidental Petroleum Corporation (NYSE: OXY) was released for Mar, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $1.09, missing analysts’ expectations of $1.24 by -0.15. This compares to $4.89 EPS in the same period last year. The net profit margin was 24.70% and return on equity was 45.30% for OXY. The company reported revenue of $7.22 billion for the quarter, compared to $8.35 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -13.46 percent. For the current quarter, analysts expect OXY to generate $7.24B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/14/2023. Investors who held shares on 06/09/2023 were paid a $0.18 dividend. On an annualized basis, this represents a $0.72 dividend and a 1.22% percent yield. There was an ex-dividend date of 06/08/2023 for this dividend. In terms of dividend payout ratio, OXY is presently at 6.00%.
Occidental Petroleum Corporation(OXY) Company Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company’s Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; and vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity; and invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.
