While Occidental Petroleum Corp has overperformed by 1.54%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, OXY fell by -12.54%, with highs and lows ranging from $71.18 to $45.17, whereas the simple moving average fell by -9.94% in the last 200 days.
On November 08, 2024, JP Morgan started tracking Occidental Petroleum Corp (NYSE: OXY) recommending Neutral. Goldman also rated OXY shares as ‘Neutral’, setting a target price of $55 on the company’s shares in an initiating report dated October 02, 2024. Wolfe Research Initiated an Outperform rating on July 18, 2024, and assigned a price target of $81. Truist May 16, 2024d its ‘Buy’ rating to ‘Hold’ for OXY, as published in its report on May 16, 2024. Scotiabank’s report from April 11, 2024 suggests a price prediction of $90 for OXY shares, giving the stock a ‘Sector Outperform’ rating. Barclays also rated the stock as ‘Equal Weight’.
Analysis of Occidental Petroleum Corp (OXY)
With OXY’s current dividend of $0.88 per share, investors can expect to earn a return regardless of performance. Further, the quarter-over-quarter decrease in sales is -2.54%, showing a negative trend in the upcoming months.
Occidental Petroleum Corp’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 13.06% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.76, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and OXY has an average volume of 11.41M. On a monthly basis, the volatility of the stock is set at 2.42%, whereas on a weekly basis, it is put at 2.36%, with a gain of 6.38% over the past seven days. Furthermore, long-term investors anticipate a median target price of $61.52, showing growth from the present price of $51.55, which can serve as yet another indication of whether OXY is worth investing in or should be passed over.
How Do You Analyze Occidental Petroleum Corp Shares?
Oil & Gas E&P giant Occidental Petroleum Corp (OXY) is based in the USA and is one of the largest companies in the market. When comparing Occidental Petroleum Corp shares with other companies under Energy, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 13.43, there is a growth in quarterly earnings of -18.03%.
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.29%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 78.64% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
OXY shares are owned by institutional investors to the tune of 78.64% at present.
