In the last trading session, 13.26 million shares of the Occidental Petroleum Corp. (NYSE:OXY) were traded, and its beta was 1.59. Most recently the company’s share price was $54.32, and it changed around -$1.59 or -2.84% from the last close, which brings the market valuation of the company to $49.19B. OXY currently trades at a discount to its 52-week high of $71.18, offering almost -31.04% off that amount. The share price’s 52-week low was $49.75, which indicates that the current value has risen by an impressive 8.41% since then. We note from Occidental Petroleum Corp.’s average daily trading volume that its 10-day average is 18.28 million shares, with the 3-month average coming to 11.33 million.
Occidental Petroleum Corp. stock received a consensus recommendation rating of Hold, based on a mean score of 2.42. If we narrow it down even further, the data shows that 1 out of 24 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 15 recommended OXY as a Hold, whereas 3 deemed it a Buy, and 1 rated it as Underweight. Occidental Petroleum Corp. is expected to report earnings per share of 0.85 for the current quarter.
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Occidental Petroleum Corp. (NYSE:OXY) trade information
Instantly OXY has showed a red trend with a performance of -2.84% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 56.49 on recent trading dayincreased the stock’s daily price by 3.84%. The company’s shares are currently down -9.03% year-to-date, but still up 2.01% over the last five days. On the other hand, Occidental Petroleum Corp. (NYSE:OXY) is 4.10% up in the 30-day period. We can see from the shorts that 30.93 million shares have been sold at a short interest cover period of 2.46 day(s).
The consensus price target as assigned by Wall Street analysts is $66.5, which translates to bulls needing to increase their stock price by 18.32% from its current value. Analyst projections state that OXY is forecast to be at a low of $24 and a high of $90.
Occidental Petroleum Corp. (OXY) estimates and forecasts
Occidental Petroleum Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -20.76 percent over the past six months and at a -5.68% annual growth rate that is well above the industry average of -7.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -28.00% in revenue this quarter, and will report an increase of 8.10% in the next quarter. The year-over-year growth rate is expected to be -4.00%, down from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of 7.31B in revenue for the current quarter. 10 analysts expect Occidental Petroleum Corp. to make 7.38B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 7.21B and 7.53B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 1.50%. Forecasts for the next quarter put sales growth at -2.00%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -6.24%. Occidental Petroleum Corp. earnings are expected to increase by -8.19% in 2024, but the outlook is positive 11.00% per year for the next five years.
OXY Dividends
Occidental Petroleum Corp.’s next quarterly earnings report is expected to be released in November. The annual dividend yield of the stock is 1.55 percent and its annual dividend per share was 0.84. It is important to note, however, that the 1.55% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 4.06 per year.
Occidental Petroleum Corp. (NYSE:OXY)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 27.56% of Occidental Petroleum Corp. shares, and 50.13% of them are in the hands of institutional investors. The stock currently has a share float of 69.20%. Occidental Petroleum Corp. stock is held by 1587.0 institutions, with BERKSHIRE HATHAWAY INC being the largest institutional investor. By 2024-06-30, it held 28.8747% of the shares, which is about 255.28 million shares worth $16.09 billion.
DODGE & COX, with 8.8634% or 78.36 million shares worth $4.94 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
