Is a Correction Looming Ahead for Occidental Petroleum Corporation (OXY) – News Heater

Is a Correction Looming Ahead for Occidental Petroleum Corporation (OXY)

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Occidental Petroleum Corporation (NYSE:OXY) went down by -2.24% from its latest closing price compared to the recent 1-year high of $32.52. The company’s stock price has collected 2.88% of gains in the last five trading sessions. Barron’s reported on 04/25/21 that These 5 Stocks Could Benefit From Biden’s Emission Reduction Target

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Is It Worth Investing in Occidental Petroleum Corporation (NYSE :OXY) Right Now?

Plus, the 36-month beta value for OXY is at 2.48. Opinions of the stock are interesting as 6 analysts out of 28 who provided ratings for Occidental Petroleum Corporation declared the stock was a “buy,” while 0 rated the stock as “overweight,” 18 rated it as “hold,” and 3 as “sell.”

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The average price from analysts is $28.88, which is $4.21 above the current price. OXY currently public float of 929.06M and currently shorts hold a 2.47% ratio of that float. Today, the average trading volume of OXY was 18.82M shares.

OXY’s Market Performance

OXY stocks went up by 2.88% for the week, with a monthly drop of -4.73% and a quarterly performance of 26.42%, while its annual performance rate touched 52.77%. The volatility ratio for the week stands at 3.78% while the volatility levels for the past 30 days are set at 4.31% for Occidental Petroleum Corporation. The simple moving average for the period of the last 20 days is 1.66% for OXY stocks with a simple moving average of 38.91% for the last 200 days.

Analysts’ Opinion of OXY

Many brokerage firms have already submitted their reports for OXY stocks, with MKM Partners repeating the rating for OXY by listing it as a “Buy.” The predicted price for OXY in the upcoming period, according to MKM Partners is $32 based on the research report published on April 14th of the current year 2021.

Wolfe Research, on the other hand, stated in their research note that they expect to see OXY reach a price target of $20. The rating they have provided for OXY stocks is “Underperform” according to the report published on April 12th, 2021.

Goldman gave a rating of “Neutral” to OXY, setting the target price at $35 in the report published on March 23rd of the current year.

OXY Trading at -5.10% from the 50-Day Moving Average

After a stumble in the market that brought OXY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -22.02% of loss for the given period.

Volatility was left at 4.31%, however, over the last 30 days, the volatility rate increased by 3.78%, as shares sank -7.38% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.32% upper at present.

During the last 5 trading sessions, OXY rose by +2.88%, which changed the moving average for the period of 200-days by +47.61% in comparison to the 20-day moving average, which settled at $24.85. In addition, Occidental Petroleum Corporation saw 46.50% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at OXY starting from ICAHN CARL C, who sale 3,500,000 shares at the price of $25.70 back on Apr 06. After this action, ICAHN CARL C now owns 73,627,271 shares of Occidental Petroleum Corporation, valued at $89,950,000 using the latest closing price.

ICAHN CARL C, the 10% Owner of Occidental Petroleum Corporation, sale 3,500,000 shares at $25.60 during a trade that took place back on Apr 05, which means that ICAHN CARL C is holding 77,127,271 shares at $89,600,000 based on the most recent closing price.

Stock Fundamentals for OXY

Current profitability levels for the company are sitting at:

  • -11.26 for the present operating margin
  • +2.57 for the gross margin

The net margin for Occidental Petroleum Corporation stands at -78.96. The total capital return value is set at -2.97, while invested capital returns managed to touch -21.05. Equity return is now at value -116.10, with -17.60 for asset returns.

Based on Occidental Petroleum Corporation (OXY), the company’s capital structure generated 200.82 points at debt to equity in total, while total debt to capital is 66.76. Total debt to assets is 44.22, with long-term debt to equity ratio resting at 412.96. Finally, the long-term debt to capital ratio is 65.12.

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When we switch over and look at the enterprise to sales, we see a ratio of 3.55, with the company’s debt to enterprise value settled at 0.61. The receivables turnover for the company is 3.95 and the total asset turnover is 0.17. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.07.

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