Despite Occidental Petroleum Corp. [OXY]’s great opportunity, the stock is a bit overvalued

In yesterday’s Wall Street session, Occidental Petroleum Corp. (NYSE:OXY) shares traded at $60.98, up 0.66% from the previous session.

29 analysts cover Occidental Petroleum Corp. (NYSE:OXY), according to research data. 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 $69.50. Given the previous closing price of $60.58, this indicates a potential upside of 14.72 percent. OXY stock price is now -4.31% away from the 50-day moving average and -1.08% away from the 200-day moving average. The market capitalization of the company currently stands at $53.68B.

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The stock has received a hold rating from 17 analysts and a buy rating from 10. Brokers who have rated the stock have averaged $71.29 as their price target over the next twelve months.

In other news, BERKSHIRE HATHAWAY INC, 10% Owner bought 1,040,067 shares of the company’s stock on Oct 25. The stock was bought for $65,574,456 at an average price of $63.05. Upon completion of the transaction, the 10% Owner now directly owns 228,051,027 shares in the company, valued at $13.91 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 24, 10% Owner BERKSHIRE HATHAWAY INC bought 1,195,400 shares of the business’s stock. A total of $74,935,203 was incurred on buying the stock at an average price of $62.69. This leaves the insider owning 227,010,960 shares of the company worth $13.84 billion. Insiders disposed of 225,932 shares of company stock worth roughly $13.78 million over the past 1 year. A total of 0.32% of the company’s stock is owned by insiders.

On Friday morning Occidental Petroleum Corp. (NYSE: OXY) stock kicked off with the opening price of $61.10. During the past 12 months, Occidental Petroleum Corp. has had a low of $55.51 and a high of $75.78. As of last week, the company has a debt-to-equity ratio of 0.71, a current ratio of 0.92, and a quick ratio of 0.70. The fifty day moving average price for OXY is $63.69 and a two-hundred day moving average price translates $61.62 for the stock.

The latest earnings results from Occidental Petroleum Corp. (NYSE: OXY) was released for Sep, 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 $2.74 EPS in the same period last year. The net profit margin was 15.18% and return on equity was 18.61% for OXY. The company reported revenue of $7.16 billion for the quarter, compared to $9.39 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -23.77 percent. For the current quarter, analysts expect OXY to generate $7.08B in revenue.

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.

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