The stock price of Occidental Petroleum Corporation (NYSE: OXY) has plunged by -1.71 when compared to previous closing price of 67.30, but the company has seen a 1.33% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2023-09-13 that Occidental (OXY) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Is It Worth Investing in Occidental Petroleum Corporation (NYSE: OXY) Right Now?
Occidental Petroleum Corporation (NYSE: OXY) has a higher price-to-earnings ratio of 11.17x compared to its average ratio,, and the 36-month beta value for OXY is at 1.79. Analysts have varying views on the stock, with 10 analysts rating it as a “buy,” 1 rating it as “overweight,” 17 as “hold,” and 1 as “sell.”
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The average price suggested by analysts for OXY is $69.08, which is $3.46 above the current market price. The public float for OXY is 868.77M, and currently, shorts hold a 5.84% of that float. The average trading volume for OXY on September 18, 2023 was 9.30M shares.
OXY’s Market Performance
OXY stock saw an increase of 1.33% in the past week, with a monthly gain of 5.76% and a quarterly increase of 13.23%. The volatility ratio for the week is 2.28%, and the volatility levels for the last 30 days are 1.97% for Occidental Petroleum Corporation (OXY). The simple moving average for the past 20 days is 3.44% for OXY’s stock, with a 6.93% simple moving average for the past 200 days.
Analysts’ Opinion of OXY
Many brokerage firms have already submitted their reports for OXY stocks, with Stephens repeating the rating for OXY by listing it as a “Overweight.” The predicted price for OXY in the upcoming period, according to Stephens is $72 based on the research report published on June 30, 2023 of the current year 2023.
OXY Trading at 5.50% 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 -13.09% of loss for the given period.
Volatility was left at 1.97%, however, over the last 30 days, the volatility rate increased by 2.28%, as shares surge +4.73% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.82% upper at present.
During the last 5 trading sessions, OXY rose by +1.33%, which changed the moving average for the period of 200-days by -3.05% in comparison to the 20-day moving average, which settled at $64.10. In addition, Occidental Petroleum Corporation saw 5.02% 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 OCCIDENTAL PETROLEUM CORP /DE/, who sale 5,100,000 shares at the price of $25.00 back on Sep 12. After this action, OCCIDENTAL PETROLEUM CORP /DE/ now owns 185,181,578 shares of Occidental Petroleum Corporation, valued at $127,500,000 using the latest closing price.
OCCIDENTAL PETROLEUM CORP /DE/, the 10% Owner of Occidental Petroleum Corporation, sale 5,100,000 shares at $25.00 during a trade that took place back on Sep 12, which means that OCCIDENTAL PETROLEUM CORP /DE/ is holding 185,181,578 shares at $127,500,000 based on the most recent closing price.
Stock Fundamentals for OXY
Current profitability levels for the company are sitting at:
- +36.64 for the present operating margin
- +47.03 for the gross margin
The net margin for Occidental Petroleum Corporation stands at +36.47. The total capital return value is set at 26.16, while invested capital returns managed to touch 26.24. Equity return is now at value 29.20, with 8.20 for asset returns.
Based on Occidental Petroleum Corporation (OXY), the company’s capital structure generated 69.02 points at debt to equity in total, while total debt to capital is 40.84. Total debt to assets is 27.78, with long-term debt to equity ratio resting at 100.02. Finally, the long-term debt to capital ratio is 39.97.
When we switch over and look at the enterprise to sales, we see a ratio of 2.49, with the company’s debt to enterprise value settled at 0.22. The receivables turnover for the company is 8.17 and the total asset turnover is 0.47. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.15.
Conclusion
In conclusion, Occidental Petroleum Corporation (OXY) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
