Occidental Petroleum Corp. (OXY): A Case For Going Higher

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours.

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Stocks Info

This NYSE-listed company operates within the Oil & Gas E&P industry segment, falling under the Energy sector. The current market capitalization of Occidental Petroleum Corp. is $55.97B. A total of 9.95 million shares were traded on the day, compared to an average of 6.78M shares.

In the most recent transaction, BERKSHIRE HATHAWAY INC bought 334,461 shares of OXY for 59.75 per share on Jun 17 ’24. After the transaction, the 10% Owner now owns 255,281,524 company shares. In a previous transaction on Jun 14 ’24, BERKSHIRE HATHAWAY INC bought 1,060,653 shares at 59.59 per share. OXY shares that 10% Owner owns now total 254,947,063.

Among the insiders who bought shares, BERKSHIRE HATHAWAY INC acquired of 1,552,497 shares on Jun 13 ’24 at a per-share price of $59.77. This resulted in the 10% Owner holding 253,886,410 shares of OXY after the transaction. In another insider transaction, BERKSHIRE HATHAWAY INC bought 765,899 shares at $60.28 per share on Jun 12 ’24. Company shares held by the 10% Owner now total 252,333,913.

Dividend

The income generated by dividends is an indication that a company is improving its financial position, which is why investors prefer companies paying dividends. Occidental Petroleum Corp. pays an annual dividend of $0.80, resulting in a dividend yield of 1.27%, and it has a price to earnings (P/E) ratio of 17.27. OXY’s most recent ex-dividend date was 6/10/2024 when it declared a $0.22 quarterly dividend that was paid in cash on 7/15/2024. Previously, the company paid the dividend on 4/15/2024 with an ex-dividend date of 3/7/2024. The OXY stock dividend was $0.22 per share in cash.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. In terms of 52-week highs and lows, OXY has a high of $71.18 and a low of $55.12.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. 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 $25.40, while its Total Shareholder’s Equity was $20.33B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. 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 3.57.

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