Occidental Petroleum Corporation (NYSE: OXY) stock fell -3.11% on Tuesday to $64.43 against a previous-day closing price of $66.50. With 8.5 million shares changed hands, the volume of the stock remained lighter than its average volume of 12.8 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $67.46 whereas the lowest price it dropped to was $61.49. The 52-week range on OXY shows that it touched its highest point at $77.13 and its lowest point at $31.37 during that stretch. It currently has a 1-year price target of $76.12. With its current market cap of 57.48 billion, OXY has annualized dividend of $0.52 while the current yield stands at 0.81%. Beta for the stock currently stands at 1.83.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OXY was down-trending over the past week, with a drop of -0.45%, but this was up by 1.10% over a month. Three-month performance dropped to -9.58% while six-month performance rose 0.03%. The stock gained 90.90% in the past year, while it has gained 2.29% so far this year. A look at the trailing 12-month EPS for OXY yields 12.08 with Next year EPS estimates of 6.93. For the next quarter, that number is 1.86. This implies an EPS growth rate of 113.30% for this year and -28.86% for next year. EPS is expected to grow by 25.75% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 29.10%.
Float and Shares Shorts:
At present, 922.00 million OXY shares are outstanding with a float of 908.11 million shares on hand for trading. On Oct 13, 2022, short shares totaled 52.19 million, which was 5.60% higher than short shares on Sep 14, 2022. In addition to Ms. Vicki A. Hollub as the firm’s Pres, CEO & Director, Mr. Robert L. Peterson serves as its Sr. VP & CFO.
Through their ownership of 82.98% of OXY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.30% of OXY, in contrast to 33.89% held by mutual funds. Shares owned by individuals account for 30.98%. As the largest shareholder in OXY with 21.38% of the stake, Berkshire Hathaway, Inc. holds 194,351,650 shares worth 194,351,650. A second-largest stockholder of OXY, Dodge & Cox, holds 94,978,388 shares, controlling over 10.45% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in OXY, holding 58,635,114 shares or 6.45% stake. With a 6.66% stake in OXY, the Dodge & Cox Stock Fund is the largest stakeholder. A total of 60,553,726 shares are owned by the mutual fund manager. The SPDR Series – Energy Select Secto, which owns about 2.29% of OXY stock, is the second-largest Mutual Fund holder. It holds 20,830,581 shares valued at 1.31 billion. Vanguard Total Stock Market Index holds 2.28% of the stake in OXY, owning 20,733,560 shares worth 1.31 billion.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OXY since 29 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 16 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With OXY analysts setting a high price target of $100.00 and a low target of $60.00, the average target price over the next 12 months is $76.15. Based on these targets, OXY could surge 55.21% to reach the target high and fall by -6.88% to reach the target low. Reaching the average price target will result in a growth of 18.19% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. OXY will report FY 2022 earnings on 02/13/2024. Analysts have provided yearly estimates in a range of $10.70 being high and $9.37 being low. For OXY, this leads to a yearly average estimate of $9.70. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Occidental Petroleum Corporation surprised analysts by -$0.04 when it reported $2.44 EPS against a consensus estimate of $2.48. The surprise factor in the prior quarter was $0.13. Based on analyst estimates, the high estimate for the next quarter is $2.26 and the low estimate is $1.58. The average estimate for the next quarter is thus $1.83.
Summary of Insider Activity:
Insiders traded OXY stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 422 shares were bought while 93 shares were sold. The number of buy transactions has increased to 107 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 164,697,381 while 330,295 shares were sold.