Occidental Petroleum Corp. (NYSE:OXY) shares, rose in value on Thursday, April 04, with the stock price up by 0.35% to the previous day’s close as strong demand from buyers drove the stock to $67.94.
Actively observing the price movement in the recent trading, the stock is buoying the session at $67.71. The value of beta (5-year monthly) is 1.69 whereas the PE ratio is 17.40 over 12-month period. Referring to stock’s 52-week performance, its high was $68.18, and the low was $55.12. On the whole, OXY has fluctuated by 12.16% over the past month.
With the market capitalization of Occidental Petroleum Corp. currently standing at about $60.23 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024. The company’s Forward Dividend Ratio is 0.76, with its dividend yield at 1.12%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.59, which is expected to increase to $1.31 for fiscal year $3.62 and then to about $4.73 by fiscal year 2025. Data indicates that the EPS growth is expected to be -1.90% in 2025, while the next year’s EPS growth is forecast to be 30.70%.
Analysts have estimated the company’s revenue for the quarter at $6.61 billion, with a low estimate of $5.32 billion and a high estimate of $7.13 billion. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $30.09 billion, representing an increase of 4.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that OXY’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.02, with the price of OXY currently trading nearly 6.99% and 11.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 78.22, while the 7-day volatility ratio is showing 2.01% which for the 30-day chart, stands at 1.56%. Furthermore, Occidental Petroleum Corp. (OXY)’s beta value is 1.68, and its average true range (ATR) is 1.08.
A comparison of Occidental Petroleum Corp. (OXY) with its peers suggests the former has fared considerably weaker in the market. OXY showed an intraday change of 0.35% in today’s session so far, and over the past year, it grew by 4.24%%.
Data on historical trading for Occidental Petroleum Corp. (NYSE:OXY) indicates that the trading volumes over the past 10 days have averaged 7.09 million and over the past 3 months, they’ve averaged 8.82 million. According to company’s latest data on outstanding shares, there are 886.47 million shares outstanding.
Nearly 0.33% of Occidental Petroleum Corp.’s shares belong to company insiders and institutional investors own 80.26% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 49.51 million shares as on Mar 15, 2024, resulting in a short ratio of 5.42. According to the data, the short interest in Occidental Petroleum Corp. (OXY) stood at 5.59% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 51.22 million. The stock has risen by 13.79% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OXY stock heading into the next quarter.
