Let’s look at the key reasons that are pushing Occidental Petroleum Corp (OXY) to new highs

Occidental Petroleum Corp (NYSE: OXY) on Monday, plunged -2.18% from the previous trading day, before settling in for the closing price of $47.64. Within the past 52 weeks, OXY’s price has moved between $47.20 and $71.18.

During the last 5-year period, the sales growth of Energy Sector giant was 16.37%. The company achieved an average annual earnings per share of -6.88%. With a float of $935.62 million, this company’s outstanding shares have now reached $938.17 million.

Let’s determine the extent of company efficiency that accounts for 12570 employees. In terms of profitability, gross margin is 35.55%, operating margin of 19.4%, and the pretax margin is 20.75%.

Occidental Petroleum Corp (OXY) Breakdown of a Key Holders of the stock

Observing investor behavior towards Oil & Gas E&P industry stocks is more important than anything else. The insider ownership of Occidental Petroleum Corp is 0.29%, while institutional ownership is 77.69%. The most recent insider transaction that took place on Aug 14 ’24, was worth 697,125,000. In this transaction 10% Owner of this company sold 19,500,000 shares at a rate of $35.75, taking the stock ownership to the 165,681,578 shares. Before that another transaction happened on Aug 14 ’24, when Company’s 10% Owner sold 19,500,000 for $35.75, making the entire transaction worth $697,125,000. This insider now owns 165,681,578 shares in total.

Occidental Petroleum Corp (OXY) Recent Fiscal highlights

According to the Wall Street analysts, stocks earnings will be around -6.88% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 12.00% during the next five years compared to -6.24% drop over the previous five years of trading.

Occidental Petroleum Corp (NYSE: OXY) Trading Performance Indicators

Occidental Petroleum Corp (OXY) is currently performing well based on its current performance indicators. A quick ratio of 0.76 was reported for the most recent quarter. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 1.57. Likewise, its price to free cash flow for the trailing twelve months is 9.52.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 3.84, a number that is poised to hit 0.74 in the next quarter and is forecasted to reach 3.30 in one year’s time.

Technical Analysis of Occidental Petroleum Corp (OXY)

Looking closely at Occidental Petroleum Corp (NYSE: OXY), its last 5-days average volume was 10.36 million, which is a jump from its year-to-date volume of 9.43 million. As of the previous 9 days, the stock’s Stochastic %D was 14.31%. Additionally, its Average True Range was 1.07.

During the past 100 days, Occidental Petroleum Corp’s (OXY) raw stochastic average was set at 1.27%, which indicates a significant decrease from 4.17% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 21.78% in the past 14 days, which was lower than the 24.17% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $50.79, while its 200-day Moving Average is $58.19. However, in the short run, Occidental Petroleum Corp’s stock first resistance to watch stands at $47.28. Second resistance stands at $47.95. The third major resistance level sits at $48.39. If the price goes on to break the first support level at $46.17, it is likely to go to the next support level at $45.73. Now, if the price goes above the second support level, the third support stands at $45.06.

Occidental Petroleum Corp (NYSE: OXY) Key Stats

Market capitalization of the company is 43.23 billion based on 938,343K outstanding shares. Right now, sales total 28,257 M and income totals 4,696 M. The company made 7,173 M in profit during its latest quarter, and 1,133 M in sales during its previous quarter.