Director Klesse William R acquired 5,000 shares in Occidental Petroleum Corporation (NYSE:OXY) for $77,963 in transaction occurred on 2018/08/13. After making this transaction, the Director owns a direct stake of 392,750 shares, worth $5,126,067, as per the last closing price. On 2017/08/09 Klesse William R, Director at OXY, purchased 10,000 shares at an average price of $61.58 per share. The new stake is valued at $4,647,999.
Separately, it had been reported that some other OXY insiders also took part of the insider trading activity. Director, Batchelder Eugene L. had invested in 10,000 shares for $30,628 through a trade on 2017/08/04. Following this activity, the insider holds 617,700 shares worth $2,013,791 as of recent close. Wall Street’s most bullish Occidental Petroleum Corporation (NYSE:OXY) analysts are predicting the share price to blow past $96 per share during the next 12 months. The current median share price forecast by them is $75, suggesting that the stock could increase 14.07% in that time frame. The average price target of $77.67 calls for a nearly 18.13% increase in the stock price.
Occidental Petroleum Corporation (OXY) trading activity significantly weakened as the volume at ready counter decreased to 3,886,566 shares versus 4,222,445 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 4,580,214 shares. The share price rose 1.4% in recent trade and currently has a stock-market value of $49.61B. The shares finished at $65.75, after trading as low as $65.58 earlier in the session. It hit an intraday high Tuesday at $66.27. The stock is now 15.7% above against its bear-market low of $56.83 on December 26, 2018. It has retreated -33.34% since it’s 52-week high of $87.67 reached in June. Now the market price is down -3.56% on the year and up 7.12% YTD.
OXY’s 50 day simple moving average (SMA 50) price is $65.08 and its 200-day simple moving average (SMA 200) price is $75.77. The company’s stock currently has a total float of 753.61M shares. Its weekly volatility is hovering around 1.81% and felt 1.79% volatility in price over a month. On the upside, the share price will test short term resistance at around $66.15. On a downside, the stock is likely to find some support, which begins at $65.46. The failure to get near-term support could push it to $65.18.
It had seen a positive analyst call from Atlantic Equities, which upgraded the stock from Neutral to Overweight on December 21. Analysts at KeyBanc Capital Mkts, started covering the stock on December 20 with a Overweight rating. The stock lost favor of CapitalOne analysts who expressed their lack of confidence in it using a downgrade from Overweight to Equal Weight on December 20. Cowen, released new analyst coverage on November 30, calling the stock is Market Perform.
When looking at valuations, Occidental Petroleum Corporation (OXY) has a pricey P/E of 12.92x as compared to industry average of 9.13x. Moreover, it trades for 18.32 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 2.33x price/book and 2.96x price/sales. Compared to others, Occidental Petroleum Corporation is in a different league with regards to profitability, having net margins of 23.3%. To put some perspective around this, the industry’s average net margin is -0.71%. OXY’s ROE is 18.7%, which is also considerably better than the industry’s ROE of -0.28%. It’s also very liquid in the near term, with a current ratio of 1.3. The stock has a debt/capital of 0.48.
Shares of Occidental Petroleum Corporation (OXY) have dropped -7.3% since the company’s last earnings report. Over the past 12 fiscal quarters, Occidental Petroleum Corporation (NYSE:OXY) has topped consensus earnings estimates in 7 quarters (58%), missed earnings in 5 quarters (41%), whereas at 0 occasion EPS met analyst expectations. OXY last reported earnings on November 05, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $1.77 per share, -88.44% change on the same period last year. That was better than consensus for $1.53. Revenue for the recent quarter stood at $6.18 billion, up 99% on last year and above the $4.58 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $3.8 billion to $4.96 billion, which should be compared with $3.53 billion generated last year. EPS is seen in a range of $0.44 to $1.35, against the $0.55 reported a year ago.