Occidental Petroleum Corp. (NYSE: OXY)’s stock price has increased by 2.24 compared to its previous closing price of 49.91. However, the company has seen a -1.18% decrease in its stock price over the last five trading sessions. seekingalpha.com reported 2024-09-27 that Occidental Petroleum is a well-managed energy firm with significant production upside, strong free cash flow, and a recent acquisition boosting its Permian Basin output. The company is using excess cash flow for debt repayment, enhancing its balance sheet, and offering a 2% dividend yield, making it an attractive buy. Warren Buffett’s 30% ownership and the accretive CrownRock acquisition should provide additional comfort. Investors today get a 15% discount on Buffett’s June buys of OXY.
Is It Worth Investing in Occidental Petroleum Corp. (NYSE: OXY) Right Now?
Occidental Petroleum Corp. (NYSE: OXY) has a price-to-earnings ratio that is above its average at 12.58x. The stock has a 36-month beta value of 1.60. Opinions on the stock are mixed, with 3 analysts rating it as a “buy,” 4 as “overweight,” 15 as “hold,” and 1 as “sell.”
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The public float for OXY is 903.02M, and at present, short sellers hold a 3.42% of that float. On September 30, 2024, the average trading volume of OXY was 9.93M shares.
OXY’s Market Performance
The stock of Occidental Petroleum Corp. (OXY) has seen a -1.18% decrease in the past week, with a -10.13% drop in the past month, and a -19.04% fall in the past quarter. The volatility ratio for the week is 2.12%, and the volatility levels for the past 30 days are at 2.14% for OXY. The simple moving average for the past 20 days is -2.86% for OXY’s stock, with a -15.39% simple moving average for the past 200 days.
Analysts’ Opinion of OXY
Many brokerage firms have already submitted their reports for OXY stocks, with Wolfe Research repeating the rating for OXY by listing it as a “Outperform.” The predicted price for OXY in the upcoming period, according to Wolfe Research is $81 based on the research report published on July 18, 2024 of the current year 2024.
Truist, on the other hand, stated in their research note that they expect to see OXY reach a price target of $69, previously predicting the price at $84. The rating they have provided for OXY stocks is “Hold” according to the report published on May 16th, 2024.
Scotiabank gave a rating of “Sector Outperform” to OXY, setting the target price at $90 in the report published on April 11th of the current year.
OXY Trading at -9.09% 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 -28.31% of loss for the given period.
Volatility was left at 2.14%, however, over the last 30 days, the volatility rate increased by 2.12%, as shares sank -10.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.93% lower at present.
During the last 5 trading sessions, OXY fell by -1.18%, which changed the moving average for the period of 200-days by -10.57% in comparison to the 20-day moving average, which settled at $52.23. In addition, Occidental Petroleum Corp. saw -14.54% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OXY starting from OCCIDENTAL PETROLEUM CORP /DE/, who sale 19,500,000 shares at the price of $35.75 back on Aug 14 ’24. After this action, OCCIDENTAL PETROLEUM CORP /DE/ now owns 165,681,578 shares of Occidental Petroleum Corp., valued at $697,125,000 using the latest closing price.
OCCIDENTAL PETROLEUM CORP /DE/, the 10% Owner of Occidental Petroleum Corp., sale 19,500,000 shares at $35.75 during a trade that took place back on Aug 14 ’24, which means that OCCIDENTAL PETROLEUM CORP /DE/ is holding 165,681,578 shares at $697,125,000 based on the most recent closing price.
Stock Fundamentals for OXY
Current profitability levels for the company are sitting at:
- 0.33 for the present operating margin
- 0.47 for the gross margin
The net margin for Occidental Petroleum Corp. stands at 0.17. The total capital return value is set at 0.13. Equity return is now at value 14.44, with 5.99 for asset returns.
Based on Occidental Petroleum Corp. (OXY), the company’s capital structure generated 0.38 points at debt to capital in total, while cash flow to debt ratio is standing at 0.55. The debt to equity ratio resting at 0.61. The interest coverage ratio of the stock is 8.83.
Currently, EBITDA for the company is 13.95 billion with net debt to EBITDA at 1.54. When we switch over and look at the enterprise to sales, we see a ratio of 2.4. The receivables turnover for the company is 6.98for trailing twelve months and the total asset turnover is 0.36. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.04.
Conclusion
To sum up, Occidental Petroleum Corp. (OXY) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
