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Occidental Petroleum Corporation (NYSE:OXY) Plunging -10.01% In 6 Months – Here’s What To Expect

Occidental Petroleum Corporation (NYSE:OXY)’s traded shares stood at 5.58 million during the latest session, with the company’s beta value hitting 1.79. At the last check today, the stock’s price was $58.58, to imply a decrease of -0.79% or -$0.46 in intraday trading. The OXY share’s 52-week high remains $77.13, putting it -31.67% down since that peak but still an impressive 12.03% since price per share fell to its 52-week low of $51.53. The company has a valuation of $53.76B, with an average of 18.33 million shares in intraday trading volume over the past 10 days and average of 13.04 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for Occidental Petroleum Corporation (OXY), translating to a mean rating of 2.60. Of 28 analyst(s) looking at the stock, 2 analyst(s) give OXY a Sell rating. 2 of those analysts rate the stock as Overweight while 16 advise Hold as 8 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $1.8.

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Occidental Petroleum Corporation (NYSE:OXY) trade information

After registering a -0.79% downside in the latest session, Occidental Petroleum Corporation (OXY) has traded red over the past five days. The stock hit a weekly high of 61.63 this Thursday, 03/16/23, dropping -0.79% in its intraday price action. The 5-day price performance for the stock is -2.15%, and -6.88% over 30 days. With these gigs, the year-to-date price performance is -7.01%. Short interest in Occidental Petroleum Corporation (NYSE:OXY) saw shorts transact 52.59 million shares and set a 4.81 days time to cover.

Analysts on Wall Street suggest a consensus price target of $71.54, implying an increase of 18.12% to the stock’s recent value. The extremes give us $60.00 and $84.00 for target low and target high price respectively. As such, OXY has been trading -43.39% off suggested target high and -2.42% from its likely low.

Occidental Petroleum Corporation (OXY) estimates and forecasts

Looking at statistics comparing Occidental Petroleum Corporation share performance against respective industry, we note that the company has underperformed competitors. Occidental Petroleum Corporation (OXY) shares are -10.01% down over the last 6 months, with its year-to-date growth rate lower than industry average at -33.80% against -13.60%. Revenue is forecast to grow 21.60% this quarter before falling -28.30% for the next one. The rating firms project that company’s revenue will grow 41.20% compared to the previous financial year.

Revenue forecast for the current quarter as set by 7 analysts is $8.66 billion. Meanwhile, for the quarter ending Mar 2023, a total of 5 analyst(s) estimate revenue growth to $8.33 billion.Earnings reports from the last fiscal year show that sales brought in $8.01 billion and $8.53 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 8.10% before dropping -2.40% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 49.10% for the past 5-year period. While 2023 is set for a 501.30% return in earnings, projections for the next 5 years are at 25.75% annually.

OXY Dividends

Occidental Petroleum Corporation has its next earnings report out between May 08 and May 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Occidental Petroleum Corporation has a forward dividend ratio of 0.72, with the share yield ticking at 1.22% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Occidental Petroleum Corporation (NYSE:OXY)’s Major holders

Occidental Petroleum Corporation insiders hold 0.18% of total outstanding shares, with institutional holders owning 79.54% of the shares at 79.68% float percentage. In total, 79.54% institutions holds shares in the company, led by Berkshire Hathaway, Inc. As of Sep 29, 2022, the company held over 194.35 million shares (or 21.38% of shares), all amounting to roughly $11.94 billion.

The next major institution holding the largest number of shares is Dodge & Cox Inc with 94.98 million shares, or about 10.45% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $5.84 billion.

We also have Dodge & Cox Stock Fund and Select Sector SPDR Fund-Energy Select as the top two Mutual Funds with the largest holdings of the Occidental Petroleum Corporation (OXY) shares. Going by data provided on Dec 30, 2022, Dodge & Cox Stock Fund holds roughly 60.55 million shares. This is just over 6.66% of the total shares, with a market valuation of $3.81 billion. Data from the same date shows that the other fund manager holds a little less at 21.04 million, or 2.31% of the shares, all valued at about 1.33 billion.

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