Friday, June 24, 2022

Is Now the Time to Invest in Occidental Petroleum Corporation (NYSE:OXY)?

The Occidental Petroleum Corporation (OXY) shares are trading at lower $17.41 and the avg recommendation for the stock is Hold. while the current analyst price target stands at $14.74.

To add more color to this target, the company’s high over the last year is $54.05 and the low is $9.00. Over the last 52 weeks, OXY is down -67.79% while the S&P 500 is down -5.76%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, OXY reported a profit of $4.19 billion. Occidental Petroleum Corporation also saw revenues increase to $6.41 billion. In addition, OXY has free cash flow of $46.0 million as of 03-2020 The company’s EBITDA came in at $1.12 billion which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. OXY has a short ratio of 1.57 and outstanding shares of 896.70M.

Company Outlook

OXY has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 69.32 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -4.33. Occidental Petroleum Corporation OXY also noted assets of $101.64 billion at the end of the last quarter. Investors should also keep an eye on sector updates as OXY has historically followed its peers on positive news.

All told, Occidental Petroleum Corporation OXY has strung together solid data and demonstrated underlying fundamentals. At its current valuation, OXY represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Occidental Petroleum Corporation OXY is now commanding a market cap of 11.72B. OXY is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of OXY stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in OXY, either long or short, and we have not been compensated for this article.

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