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NYSE:OXY

Occidental Petroleum (OXY) Stock Price, News & Analysis

Occidental Petroleum logo
$48.20 +0.08 (+0.17%)
(As of 12/26/2024 05:45 PM ET)

About Occidental Petroleum Stock (NYSE:OXY)

Key Stats

Today's Range
$47.49
$48.69
50-Day Range
$45.36
$52.10
52-Week Range
$45.17
$71.18
Volume
11.21 million shs
Average Volume
9.62 million shs
Market Capitalization
$45.23 billion
P/E Ratio
12.55
Dividend Yield
1.83%
Price Target
$62.10
Consensus Rating
Hold

Company Overview

Occidental Petroleum Corporation is an international oil and gas giant founded in 1920 to explore for oil in California. The company made its name in the early 1960s after discovering the Lathrop Gas Field in Lathrop, California. The company expanded into chemicals manufacturing in 1968 and then in 1972 it became a pioneer in the quest to extract oil from shale. In 1993, the company made a historic move by exiting its coal operations, and then it did so again when it embraced a lower carbon future.

The company worked to realign its goals with a carbon-free future in 2021. After extensive review, new carbon emission targets were laid out along with a plan that the Transition Pathway Initiative recognized as being 1 of 3 coming from major oil companies that could realistically result in net-zero emissions by 2050. Since then the company has laid interim goals that include net zero from operations and energy by 2040 and no routine flaring by 2030.

Today, Occidental Petroleum is an integrated energy company with operations in the US, the Middle East, Africa, and Columbia, along with some other smaller operations. The company operates a network of best-in-class production, delivery, and storage facilities with operations centered in the US. On a net basis, the company’s US operations accounted for more than 75% of the total in 2022 with 19% from Middle East operations and the remainder from Columbia and elsewhere.

The company engages in the oil & gas business as an explorer, producer, and mid-stream infrastructure operator. The company operates through three segments that include Oil and Gas, Chemicals, and Midstream & Marketing.

The oil and gas segment explores for oil, develops new fields, and produces hydrocarbon liquids, gasses, and condensates. The chemicals segment manufactures a range of chemicals including chlorine, potassium chemicals, and vinyl. The midstream segment transports, stores, and markets hydrocarbons. It is the 6th largest oil and gas producer in the US by market cap. The company attained the position after its acquisition of Anadarko Petroleum in 2019, the 4th largest oil and gas acquisition at the time.

Berkshire Hathaway became Occidental Petroleum’s largest shareholder in mid-2022. The firm had purchased more than 26% of the shares as of 10/14/2022 and had regulatory approval to purchase up to 50% of the company in total.

Occidental Petroleum Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
95th Percentile Overall Score

OXY MarketRank™: 

Occidental Petroleum scored higher than 95% of companies evaluated by MarketBeat, and ranked 20th out of 272 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Occidental Petroleum has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 6 buy ratings, 13 hold ratings, and 1 sell rating.

  • Amount of Analyst Coverage

    Occidental Petroleum has been the subject of 19 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

  • Read more about Occidental Petroleum's stock forecast and price target.
  • Earnings Growth

    Earnings for Occidental Petroleum are expected to grow by 0.90% in the coming year, from $3.35 to $3.38 per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Occidental Petroleum is 12.55, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 111.97.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Occidental Petroleum is 12.55, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 12.48.

  • Price to Book Value per Share Ratio

    Occidental Petroleum has a P/B Ratio of 1.92. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

  • Percentage of Shares Shorted

    3.79% of the outstanding shares of Occidental Petroleum have been sold short.
  • Short Interest Ratio / Days to Cover

    Occidental Petroleum has a short interest ratio ("days to cover") of 2.9, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Occidental Petroleum has recently increased by 11.50%, indicating that investor sentiment is decreasing significantly.
  • Dividend Yield

    Occidental Petroleum pays a meaningful dividend of 1.84%, higher than the bottom 25% of all stocks that pay dividends.

  • Dividend Growth

    Occidental Petroleum does not have a long track record of dividend growth.

  • Dividend Coverage

    The dividend payout ratio of Occidental Petroleum is 22.92%. This payout ratio is at a healthy, sustainable level, below 75%.

  • Dividend Sustainability

    Based on earnings estimates, Occidental Petroleum will have a dividend payout ratio of 26.04% next year. This indicates that Occidental Petroleum will be able to sustain or increase its dividend.

  • Read more about Occidental Petroleum's dividend.
  • Percentage of Shares Shorted

    3.79% of the outstanding shares of Occidental Petroleum have been sold short.
  • Short Interest Ratio / Days to Cover

    Occidental Petroleum has a short interest ratio ("days to cover") of 2.9, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Occidental Petroleum has recently increased by 11.50%, indicating that investor sentiment is decreasing significantly.
  • News Sentiment

    Occidental Petroleum has a news sentiment score of 0.45. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.67 average news sentiment score of Oils/Energy companies.
  • News Coverage This Week

    MarketBeat has tracked 46 news articles for Occidental Petroleum this week, compared to 23 articles on an average week.
  • Search Interest

    142 people have searched for OXY on MarketBeat in the last 30 days. This is an increase of 7% compared to the previous 30 days.
  • MarketBeat Follows

    96 people have added Occidental Petroleum to their MarketBeat watchlist in the last 30 days. This is an increase of 5% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, Occidental Petroleum insiders have bought more of their company's stock than they have sold. Specifically, they have bought $279,377,076.00 in company stock and sold $0.00 in company stock.

  • Percentage Held by Insiders

    Only 0.31% of the stock of Occidental Petroleum is held by insiders.

  • Percentage Held by Institutions

    88.70% of the stock of Occidental Petroleum is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

  • Read more about Occidental Petroleum's insider trading history.
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OXY Stock Analysis - Frequently Asked Questions

Occidental Petroleum's stock was trading at $59.71 at the beginning of the year. Since then, OXY stock has decreased by 19.3% and is now trading at $48.20.
View the best growth stocks for 2024 here
.

Occidental Petroleum Co. (NYSE:OXY) issued its earnings results on Wednesday, August, 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum's revenue was up 2.2% compared to the same quarter last year.
Read the conference call transcript
.

Occidental Petroleum subsidiaries include Anadarko Petroleum, Phibro, Vintage Petroleum, Laguna Petroleum Corp., ARCO Long Beach, Altura Energy, Cain Chemical, and others.

Top institutional investors of Occidental Petroleum include State Street Corp (4.40%), Geode Capital Management LLC (1.48%), H&H International Investment LLC (0.98%) and Charles Schwab Investment Management Inc. (0.44%). Insiders that own company stock include Berkshire Hathaway Inc, Petroleum Corp /De/ Occidental, Christopher O Champion, Vicki A Hollub and Avedick Baruyr Poladian.
View institutional ownership trends
.

Shares of OXY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that Occidental Petroleum investors own include NVIDIA (NVDA), Meta Platforms (META), Exxon Mobil (XOM), Advanced Micro Devices (AMD), Tesla (TSLA), Chevron (CVX) and Verizon Communications (VZ).

Company Calendar

Last Earnings
8/07/2024
Ex-Dividend for 10/15 Dividend
9/10/2024
Dividend Payable
10/15/2024
Ex-Dividend for 1/15 Dividend
12/10/2024
Today
12/26/2024
Fiscal Year End
12/31/2024
Dividend Payable
1/15/2025

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
Integrated Oil & Gas
CUSIP
67459910
Employees
12,570
Year Founded
1920

Price Target and Rating

Average Stock Price Target
$62.10
High Stock Price Target
$78.00
Low Stock Price Target
$51.00
Potential Upside/Downside
+28.8%
Consensus Rating
Hold
Rating Score (0-4)
2.33
Research Coverage
21 Analysts

Profitability

Net Income
$4.70 billion
Pretax Margin
20.30%

Debt

Sales & Book Value

Annual Sales
$27.14 billion
Cash Flow
$11.99 per share
Book Value
$25.06 per share

Miscellaneous

Free Float
935,434,000
Market Cap
$45.23 billion
Optionable
Optionable
Beta
1.57

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This page (NYSE:OXY) was last updated on 12/27/2024 by MarketBeat.com Staff
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