During the recent session, Occidental Petroleum Corp (NYSE:OXY)’s traded shares were 3.54 million, with the beta value of the company hitting 1.61. At the last check today, the stock’s price was $50.04, reflecting an intraday loss of -0.14% or -$0.07. The 52-week high for the OXY share is $71.18, that puts it down -42.25 from that peak though still a striking 0.76% gain since the share price plummeted to a 52-week low of $49.66. The company’s market capitalization is $45.32B, and the average intraday trading volume over the past 10 days was 9.01 million shares, and the average trade volume was 12.10 million shares over the past three months.
Occidental Petroleum Corp (OXY) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.44. OXY has a Sell rating from 0 analyst(s) out of 17 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 11 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.74.
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Occidental Petroleum Corp (NYSE:OXY) trade information
Occidental Petroleum Corp (OXY) registered a -0.14% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.14% in intraday trading to $50.04, hitting a weekly high. The stock’s 5-day price performance is -2.99%, and it has moved by -8.67% in 30 days. Based on these gigs, the overall price performance for the year is -18.45%. The short interest in Occidental Petroleum Corp (NYSE:OXY) is 33.75 million shares and it means that shorts have 2.44 day(s) to cover.
The consensus price target of analysts on Wall Street is $65, which implies an increase of 23.02% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $24 and $90 respectively. As a result, OXY is trading at a discount of -79.86% off the target high and 52.04% off the low.
Occidental Petroleum Corp (OXY) estimates and forecasts
Statistics show that Occidental Petroleum Corp has underperformed its competitors in share price, compared to the industry in which it operates. Occidental Petroleum Corp (OXY) shares have gone down -22.29% during the last six months, with a year-to-date growth rate less than the industry average at -11.08% against -8.40. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -37.30% this quarter and then drop -2.70% in the quarter after that. In the rating firms’ projections, revenue will decrease -4.60% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 7.26B as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to 7.3B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 7.21B and 7.53B respectively. In this case, analysts expect current quarter sales to grow by 0.80% and then drop by -3.10% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -6.24%. While earnings are projected to return -12.37% in 2024, the next five years will return 14.00% per annum.
OXY Dividends
Occidental Petroleum Corp is due to release its next quarterly earnings on 2024-Nov-12. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Occidental Petroleum Corp is 0.84, with the dividend yield indicating at 1.68 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 3.96%.
Occidental Petroleum Corp (NYSE:OXY)’s Major holders
Occidental Petroleum Corp insiders own 27.56% of total outstanding shares while institutional holders control 50.29%, with the float percentage being 69.43%. BERKSHIRE HATHAWAY INC is the largest shareholder of the company, while 1561.0 institutions own stock in it. As of 2024-06-30, the company held over 255.28 million shares (or 28.8747% of all shares), a total value of $16.09 billion in shares.
The next largest institutional holding, with 78.36 million shares, is of DODGE & COX’s that is approximately 8.8634% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $4.94 billion.
