In the latest trading session, 1.25 million Occidental Petroleum Corp. (NYSE:OXY) shares changed hands as the company’s beta touched 1.60. With the company’s most recent per share price at $52.29 changing hands around $0.47 or 0.91% at last look, the market valuation stands at $47.35B. OXY’s current price is a discount, trading about -36.13% off its 52-week high of $71.18. The share price had its 52-week low at $49.75, which suggests the last value was 4.86% up since then. When we look at Occidental Petroleum Corp.’s average trading volume, we note the 10-day average is 9.89 million shares, with the 3-month average coming to 11.81 million.
Analysts gave the Occidental Petroleum Corp. (OXY) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.44. If we narrow down to specifics, the data shows that 0 out of 17 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 5 recommended OXY as a Hold, 11 felt it is a Buy and 0 rated the stock as Underweight. Occidental Petroleum Corp.’s EPS for the current quarter is expected to be 0.75.
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Occidental Petroleum Corp. (NYSE:OXY) trade information
Instantly OXY is in green as seen in intraday trades today. With action 1.42%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -12.43%, with the 5-day performance at 1.42% in the green. However, in the 30-day time frame, Occidental Petroleum Corp. (NYSE:OXY) is 0.10% up. Looking at the short shares, we see there were 33.78 million shares sold at short interest cover period of 2.59 days.
The consensus price target for the stock as assigned by Wall Street analysts is 65, meaning bulls need an upside of 19.55% from its recent market value. According to analyst projections, OXY’s forecast low is 24 with 90 as the target high. To hit the forecast high, the stock’s price needs a -72.12% plunge from its current level, while the stock would need to tank 54.1% for it to hit the projected low.
Occidental Petroleum Corp. (OXY) estimates and forecasts
Data shows that the Occidental Petroleum Corp. 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 -22.41% over the past 6 months, a -7.84% in annual growth rate that is considerably lower than the industry average of -5.50%. Year-over-year growth is forecast to reach -4.70% down from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of 7.26B. 11 analysts are of the opinion that Occidental Petroleum Corp.’s revenue for the current quarter will be 7.27B. The company’s revenue for the corresponding quarters a year ago was 7.21B and 7.53B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 0.70%. The estimates for the next quarter sales put growth at -3.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -6.24%. The 2024 estimates are for Occidental Petroleum Corp. earnings to decrease by -12.63%, but the outlook for the next 5-year period is at 12.50% per year.
OXY Dividends
Occidental Petroleum Corp. is expected to release its next quarterly earnings report on 2024-Nov-12. The 1.61% annual yield figure for the share gives it an annual dividend of 0.84. It is important to note, however, that the 1.61% 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. During the past 5 years, the average dividend yield was 4.06 per year.
Occidental Petroleum Corp. (NYSE:OXY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 27.56% of Occidental Petroleum Corp. shares while 50.20% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 69.30%. There are 50.20% institutions holding the Occidental Petroleum Corp. stock share, with BERKSHIRE HATHAWAY INC the top institutional holder. As of 2024-06-30, the company held 28.8747% of the shares, roughly 255.28 million OXY shares worth $16.09 billion.
DODGE & COX holds the second largest percentage of outstanding shares, with 8.8634% or 78.36 million shares worth $4.94 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund. With 54.29 shares estimated at $2.84 billion under it, the former controlled 5.99% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.17% of the shares, roughly 19.62 shares worth around $1.03 billion.
