Occidental Petroleum (NYSE:OXY) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Shares of Occidental Petroleum Corporation (NYSE:OXY) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $56.35 and traded as low as $54.97. Occidental Petroleum shares last traded at $55.7880, with a volume of 11,180,236 shares changing hands.

Trending Headlines about Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Adjusted earnings were $1.91 per share, well above analyst estimates of roughly $1.34–$1.45 and up from $0.64 a year earlier. Operational outperformance in core shale basins helped offset lower crude prices, and the company also reported progress reducing debt. Reuters article
• Positive Sentiment: Oxy signed long-term agreements to obtain captured CO₂ for enhanced oil recovery in the Permian Basin. The project developers will fund and build the capture and delivery infrastructure, potentially supporting Oxy’s oil recovery operations without requiring it to finance those facilities. CO₂ agreements announcement
• Neutral Sentiment: Revenue increased 20.6% year over year to $6.77 billion, but was slightly below the $6.80 billion estimate cited in one report. The earnings beat is the stronger near-term signal, though investors may weigh revenue performance against it. Q3 sales and earnings report

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Occidental Petroleum from $79.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, September 14th. Roth Capital upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Friday, October 16th. Truist Financial boosted their target price on Occidental Petroleum from $63.00 to $64.00 and gave the company a “hold” rating in a report on Thursday, October 15th. UBS Group upped their price target on Occidental Petroleum from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 14th. Finally, Citigroup decreased their price target on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $67.88.

Occidental Petroleum Stock Down 1.1%

The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $55.77 billion, a PE ratio of 8.64, a PEG ratio of 0.66 and a beta of 0.16. The firm’s fifty day moving average is $59.98 and its 200-day moving average is $56.35.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 9th. The oil and gas producer reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.45. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities research analysts predict that Occidental Petroleum Corporation will post 6.81 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 10th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 17.34%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OXY. Berkshire Hathaway Inc purchased a new position in Occidental Petroleum in the second quarter worth $12,868,205,000. State Street Corp boosted its position in shares of Occidental Petroleum by 6.6% during the 2nd quarter. State Street Corp now owns 46,141,269 shares of the oil and gas producer’s stock worth $2,252,271,000 after purchasing an additional 2,870,472 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Occidental Petroleum by 84.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock worth $516,975,000 after purchasing an additional 4,882,834 shares in the last quarter. Amundi grew its stake in shares of Occidental Petroleum by 2.7% during the 1st quarter. Amundi now owns 2,979,380 shares of the oil and gas producer’s stock worth $193,660,000 after purchasing an additional 78,335 shares during the period. Finally, Danske Bank A S acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth $172,413,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa.

Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods.

The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.