In the last trading session, 7.73 million Occidental Petroleum Corporation (NYSE:OXY) shares changed hands as the company’s beta touched 1.78. With the company’s per share price at $66.32 changed hands at $0.17 or 0.26% during last session, the market valuation stood at $59.69B. OXY’s last price was a discount, traded about -14.76% off its 52-week high of $76.11. The share price had its 52-week low at $55.51, which suggests the last value was 16.3% up since then. When we look at Occidental Petroleum Corporation’s average trading volume, we note the 10-day average is 10.6 million shares, with the 3-month average coming to 9.50 million.
Analysts gave the Occidental Petroleum Corporation (OXY) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 1 out of 29 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 17 recommended OXY as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Occidental Petroleum Corporation’s EPS for the current quarter is expected to be $0.76.
Occidental Petroleum Corporation (NYSE:OXY) trade information
Instantly OXY was in green as seen at the end of in last trading. With action 3.88%, the performance over the past five days has been green. The jump to weekly highs of 67.67 on Monday, 09/18/23 added 0.26% to the stock’s daily price. The company’s shares are showing year-to-date upside of 5.29%, with the 5-day performance at 3.88% in the green. However, in the 30-day time frame, Occidental Petroleum Corporation (NYSE:OXY) is 5.00% up. Looking at the short shares, we see there were 50.75 million shares sold at short interest cover period of 5.96 days.
The consensus price target for the stock as assigned by Wall Street analysts is $69.12, meaning bulls need an upside of 4.05% from its current market value. According to analyst projections, OXY’s forecast low is $59.00 with $85.00 as the target high. To hit the forecast high, the stock’s price needs a -28.17% plunge from its current level, while the stock would need to tank 11.04% for it to hit the projected low.
Occidental Petroleum Corporation (OXY) estimates and forecasts
Data shows that the Occidental Petroleum Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 13.41% over the past 6 months, a -59.36% in annual growth rate that is considerably lower than the industry average of -21.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Occidental Petroleum Corporation will fall -68.90%, while the growth in revenue is estimated to hit -32.30% for the next quarter. Year-over-year growth is forecast to reach -24.30% down from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $6.82 billion. 10 analysts are of the opinion that Occidental Petroleum Corporation’s revenue for the quarter ending Dec 2023 will be $7.16 billion. The company’s revenue for the corresponding quarters a year ago was $9.5 billion and $8.33 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -28.30%. The estimates for the next quarter sales put growth at -13.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 49.10%. The 2023 estimates are for Occidental Petroleum Corporation earnings to increase by 501.30%.
Occidental Petroleum Corporation is expected to release its next quarterly earnings report between November 06 and November 10. The 1.09% annual yield figure for the share gives it an annual dividend of 0.72. It is important to note, however, that the 1.09% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Occidental Petroleum Corporation (NYSE:OXY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.28% of Occidental Petroleum Corporation shares while 79.62% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 79.84%. There are 79.62% institutions holding the Occidental Petroleum Corporation stock share, with Berkshire Hathaway, Inc the top institutional holder. As of Jun 29, 2023, the company held 25.33% of the shares, roughly 224.13 million OXY shares worth $13.18 billion.
Dodge & Cox Inc holds the second largest percentage of outstanding shares, with 10.32% or 91.3 million shares worth $5.37 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund. With 60.77 million shares estimated at $3.57 billion under it, the former controlled 6.87% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.36% of the shares, roughly 20.86 million shares worth around $1.23 billion.