Occidental Petroleum Corp. [OXY] stock prices are up 1.24% to $61.36 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The OXY shares have gain 2.23% over the last week, with a monthly amount glided 6.58%, and seem to be holding up well over a long-time horizon.
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On 14, February 2024, Occidental Announces Fourth Quarter 2023 Results. In a post published today on Yahoo Finance, Occidental (NYSE: OXY) today announced its fourth quarter 2023 financial results. The earnings release and accompanying 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.
From an analyst’s perspective:
Occidental Petroleum Corp. [NYSE: OXY] stock has seen the most recent analyst activity on January 03, 2024, when Mizuho downgraded its rating to a Neutral but kept the price target unchanged to $63 for it. Previously, Morgan Stanley upgraded its rating to Overweight on December 11, 2023, and kept the price target unchanged to $68. On November 10, 2023, downgrade downgraded it’s rating to Peer Perform. Stephens started tracking the stock assigning a Overweight rating and suggested a price target of $72 on June 30, 2023. UBS initiated its recommendation with a Neutral and recommended $68 as its price target on April 19, 2023. TD Cowen upgraded its rating to Outperform for this stock on March 28, 2023, and upped its price target to $70. In a note dated February 22, 2023, Evercore ISI downgraded an Underperform rating on this stock and revised its target price from $74 to $60.
The stock price of Occidental Petroleum Corp. [OXY] has been fluctuating between $55.12 and $67.67 over the past year. Currently, Wall Street analysts expect the stock to reach $62.64 within the next 12 months. Occidental Petroleum Corp. [NYSE: OXY] shares were valued at $61.36 at the most recent close of the market. An investor can expect a potential return of 2.09% based on the average OXY price forecast.
Analyzing the OXY fundamentals
The Occidental Petroleum Corp. [NYSE:OXY] reported sales of 28.33B for trailing twelve months, representing a drop of -11.70%. Gross Profit Margin for this corporation currently stands at 0.47% with Operating Profit Margin at 0.35%, Pretax Profit Margin comes in at 0.22%, and Net Profit Margin reading is 0.16%. To continue investigating profitability, this company’s Return on Assets is posted at 0.06, Equity is 0.15 and Total Capital is 0.15. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.69.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 60.92 points at the first support level, and at 60.49 for the second support level. However, for the 1st resistance point, the stock is sitting at 61.70, and for the 2nd resistance point, it is at 62.03.
Occidental Petroleum Corp. [OXY] reported earnings per share of $0.74 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.71/share, meaning a difference of $0.03 and a surprise factor of 4.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.18 per share as compared to estimates of $0.84 per share, a difference of $0.34 representing a surprise of 40.50%.
Ratios To Look Out For
It’s worth pointing out that Occidental Petroleum Corp. [NYSE:OXY]’s Current Ratio is 0.92. Also, the Quick Ratio is 0.69, while the Cash Ratio stands at 0.16. Considering the valuation of this stock, the price to sales ratio is 1.90, the price to book ratio is 2.46 and price to earnings (TTM) ratio is 15.72.
Transactions by insiders
Recent insider trading involved BERKSHIRE HATHAWAY INC, 10% Owner, that happened on Feb 05 when 1.41 million shares were purchased. 10% Owner, BERKSHIRE HATHAWAY INC completed a deal on Feb 02 to buy 1.25 million shares. Meanwhile, 10% Owner BERKSHIRE HATHAWAY INC bought 1.65 million shares on Feb 01.
