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Friday, September 29, 2023

Occidental Petroleum Corporation (OXY) Is Not Likely To Be The Same Tomorrow

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. After-hours trades for Occidental Petroleum Corporation (OXY) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.09, or 0.14%, to $65.66. The Occidental Petroleum Corporation has recorded 131,772 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Occidental Enters into Agreement to Acquire Direct Air Capture Technology Innovator Carbon Engineering.

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Stocks Info

Occidental Petroleum Corporation is listed on the NYSE in the Energy sector while operating in the Oil & Gas E&P industry. At the end of the last regular session, the stock closed at $65.57 and fluctuated between $66.50 as its day high and $64.96 as its day low. The current market capitalization of Occidental Petroleum Corporation is $56.41B. A total of 8.17 million shares were traded on the day, compared to an average of 9.42M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, OXY has seen 3 BUY and 0 SELL insider trades, representing the acquisition of 2,138,250 and the disposition of 0 shares. Over the last 12 months, there were 66 BUYs and 19 SELLs from insiders. Insiders purchased 36,428,768 shares during that period but sold 222,430.

In the most recent transaction, BERKSHIRE HATHAWAY INC bought 260,769 shares of OXY for 57.02 per share on Jun 28. After the transaction, the 10% Owner now owns 224,129,192 company shares. In a previous transaction on Jun 27, BERKSHIRE HATHAWAY INC bought 1,239,180 shares at 57.17 per share. OXY shares that 10% Owner owns now total 223,868,423.

Among the insiders who bought shares, BERKSHIRE HATHAWAY INC acquired of 638,301 shares on Jun 26 at a per-share price of $57.01. This resulted in the 10% Owner holding 222,629,243 shares of OXY after the transaction. In another insider transaction, BERKSHIRE HATHAWAY INC bought 2,203,753 shares at $58.30 per share on May 30. Company shares held by the 10% Owner now total 221,990,942.


The reasons why investors prefer dividend-paying companies are that dividends generate immediate cash flow and indicate that the company will perform well in the future. Occidental Petroleum Corporation pays an annual dividend of $0.72, resulting in a dividend yield of 1.10%, and it has a price to earnings (P/E) ratio of 11.07. OXY’s most recent ex-dividend date was 9/7/2023 when it declared a $0.18 quarterly dividend that was paid in cash on 10/13/2023. Previously, the company paid the dividend on 7/14/2023 with an ex-dividend date of 6/8/2023. The OXY stock dividend was $0.18 per share in cash.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for OXY in the last 3 months, the mean price target is $69.04 with high estimates of $85.00 and low estimates of $59.00. In terms of 52-week highs and lows, OXY has a high of $76.11 and a low of $55.51.

As of this writing, OXY has an earnings estimate of $0.74 per share for the current quarter. EPS was calculated based on a consensus of 18 estimates, with a high estimate of $1.21 per share and a lower estimate of $0.22. The company reported an EPS of $1.09 in the last quarter, which was -12.10% lower than expectations of $1.24.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information. OXY’s latest balance sheet shows that the firm has $2.76B in Cash & Short Term Investments as of fiscal 2021. There were $30.39B in debt and $8.32B in liabilities at the time. Its Book Value Per Share was $23.04, while its Total Shareholder’s Equity was $20.33B.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for OXY is Buy with a score of 3.74.

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