Why Occidental Petroleum Corporation [OXY] Stock Still Has Countless Sunny Days Ahead

Occidental Petroleum Corporation [OXY] stock is down -4.00 while the S&P 500 has risen 1.11% on Tuesday, 12/01/20. While at the time of this article, OXY ATR is sitting at 0.91, with the beta value at 2.48. This stock’s volatility for the past week remained at 5.99%, while it was 6.80% for the past 30-day period. OXY has fallen -$0.63 from the previous closing price of $15.76 on volume of 31.36 million shares.

On 9, November 2020, Occidental Announces Third Quarter 2020 Results. According to news published on Yahoo Finance, Occidental (NYSE: OXY) today announced its third quarter 2020 financial results. The announcement and financial schedules can be accessed via the Investor Relations section of the company’s website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission’s website at sec.gov.

Analyst Birdseye View:

The most recent analyst activity for Occidental Petroleum Corporation [NYSE:OXY] stock was on November 20, 2020, when it was Upgrade with a Positive rating from Susquehanna, which also raised its 12-month price target on the stock to $18. Before that, on December 01, 2020, UBS Recapitulated a Sell rating and elevated its amount target to $12. On November 11, 2020, JP Morgan Downgrade an Underweight rating and boosted its price target on this stock from $12.50 to $13. On October 21, 2020, Truist Downgrade a Hold rating. On September 24, 2020, Scotiabank Upgrade a Sector outperform rating and increased its price target to $16. On September 08, 2020, MKM Partners Upgrade a Buy rating and boosted its amount on this stock to $17. On August 21, 2020, Morgan Stanley Upgrade an Equal-weight rating and boosted its target amount on this stock to $14.

In the past 52 weeks of trading, this stock has oscillated between a low of $8.52 and a peak of $47.58. Right now, the middling Wall Street analyst 12-month amount mark is $11.00. At the most recent market close, shares of Occidental Petroleum Corporation [NYSE:OXY] were valued at $15.13. According to the average price forecast, investors can expect a potential return of -15.73%.

FUNDAMENTAL ANALYSIS

Occidental Petroleum Corporation [NYSE:OXY] most recently reported quarterly sales of 4.02 billion, which represented growth of -30.20%. This publicly-traded organization’s revenue is $1,298,333 per employee, while its income is -$45,278 per employee. This company’s Gross Margin is currently 56.60%, its Operating Margin is -67.00%, its Pretax Margin is +0.99, and its Net Margin is -3.49. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at -0.83, -2.35, 2.11 and -1.24 respectively.

The Principal structure of this organization shows its whole liability to whole principal at 53.89 and the whole liability to whole assets at 35.42. It shows enduring liability to the whole principal at 53.06 and enduring liability to assets at 0.35 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 14.69 points at 1st support level, the second support level is making up to 14.24. But as of 1st resistance point, this stock is sitting at 15.86 and at 16.58 for 2nd resistance point.

Occidental Petroleum Corporation [OXY] reported its earnings at -$0.84 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.72/share signifying the difference of -0.12 and -16.70% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$1.76 calling estimates for -$1.68/share with the difference of -0.08 depicting the surprise of -4.80%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Occidental Petroleum Corporation [NYSE:OXY] is 1.00. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.23. Now if looking for a valuation of this stock’s amount to sales ratio it’s 1.78 and it’s amount to book ratio is 1.51.

Insider Stories

The most recent insider trade was by KLESSE WILLIAM R, Director, and it was the purchase of 10000.0 shares on Aug 25. Brown Oscar K, the Former Senior Vice President, completed a sale of 11839.0 shares on Jun 08. On Jun 05, Brown Oscar K, Former Senior Vice President, completed a sale of 52066.0 shares.