Stocks of Occidental Petroleum Corp. (NYSE:OXY) traded higher last session on Wall Street, down -1.93% to $65.18.
According to the data, Occidental Petroleum Corp. (NYSE:OXY) has 29 analysts covering its stock. 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 $60.00, we find $70.00. Given the previous closing price of $66.46, this indicates a potential upside of 5.33 percent. OXY stock price is now 1.88% away from the 50-day moving average and 5.45% away from the 200-day moving average. The market capitalization of the company currently stands at $57.66B.
A total of 17 analysts have issued a hold rating and 10 have given it a buy rating. Brokers who have rated the stock have averaged $70.56 as their price target over the next twelve months.
With the price target of $72, Stephens recently initiated with Overweight rating for Occidental Petroleum Corp. (NYSE: OXY).
In other news, OCCIDENTAL PETROLEUM CORP /DE/, 10% Owner sold 5,100,000 shares of the company’s stock on Sep 12. The stock was sold for $127,500,000 at an average price of $25.00. Upon completion of the transaction, the 10% Owner now directly owns 185,181,578 shares in the company, valued at $12.07 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 12, 10% Owner OCCIDENTAL PETROLEUM CORP /DE/ sold 5,100,000 shares of the business’s stock. A total of $127,500,000 was realized by selling the stock at an average price of $25.00. This leaves the insider owning 185,181,578 shares of the company worth $12.07 billion. Insiders disposed of 226,025 shares of company stock worth roughly $14.73 million over the past 1 year. A total of 0.34% 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 Corp. shares was purchased by ANSON FUNDS MANAGEMENT LP during the first quarter worth $25,094,000. NINETY ONE UK LTD invested $23,636,000 in shares of OXY during the first quarter. In the first quarter, CMT CAPITAL MARKETS TRADING GMBH acquired a new stake in Occidental Petroleum Corp. valued at approximately $20,392,000. NINETY ONE SA (PTY) LTD acquired a new stake in OXY for approximately $18,254,000. DISCOVERY CAPITAL MANAGEMENT, LLC / CT purchased a new stake in OXY valued at around $17,829,000 in the second quarter. In total, there are 1,514 active investors with 78.13% ownership of the company’s stock.
During the past 12 months, Occidental Petroleum Corp. has had a low of $55.51 and a high of $76.11. As of last week, the company has a debt-to-equity ratio of 0.72, a current ratio of 1.00, and a quick ratio of 0.73. The fifty day moving average price for OXY is $64.01 and a two-hundred day moving average price translates $61.83 for the stock.
The latest earnings results from Occidental Petroleum Corp. (NYSE: OXY) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.68, missing analysts’ expectations of $0.72 by -0.04. This compares to $3.69 EPS in the same period last year. The net profit margin was 18.55% and return on equity was 23.75% for OXY. The company reported revenue of $6.7 billion for the quarter, compared to $10.68 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -37.22 percent. For the current quarter, analysts expect OXY to generate $7.08B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/13/2023. Investors who held shares on 09/08/2023 were paid a $0.18 dividend. On an annualized basis, this represents a $0.69 dividend and a 1.06% percent yield. There was an ex-dividend date of 09/07/2023 for this dividend. In terms of dividend payout ratio, OXY is presently at 4.19%.
Occidental Petroleum Corp.(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.
