You may opt-out by. With investors focusing their attention on 2021 results, the valuations become important in finding value. View the latest Occidental Petroleum Corp. (OXY) stock price, news, historical charts, analyst ratings and financial information from WSJ. With a series of asset sales on the cards, OXY’s shareholders can expect margin improvement along with a resumption of dividends. Recently, Occidental Petroleum announced an agreement to sell its onshore assets in Colombia to Carlyle Group (NASDAQ:CG). The coronavirus crisis and Anadarko’s acquisition have been weighing on Occidental Petroleum’s stock (NYSE: OXY) since the beginning of the year. My primary concern at that time was Occidental Petroleum’s dismal second-quarter fiscal results. On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. Copyright © OXY’s P/S multiple changed from 2.4 in 2017 to 1.5 in 2019. So what’s the likely trigger and timing for an upside? This gives current and prospective shareholders some time to reconsider their outlooks on OXY stock. We can’t blame Occidental Petroleum for the sharp decline in energy prices in March and April. 2020 InvestorPlace Media, LLC. See all Trefis Price Estimates and Download Trefis Data here, What’s behind Trefis?

At this point, I would say that reclaiming the pre-pandemic $40 level is going to be nearly impossible. In light of this, we can score one point for OXY stock holders. In this light, it’s hard to find value in a company that’s shrinking. Given everything that’s happened in the petroleum market, I suppose we should congratulate shale oil and natural gas producer Occidental Petroleum (NYSE:OXY) for limping into the fourth quarter of 2020 without officially declaring bankruptcy. Here’s a high quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) Since that advisory was published, OXY has slid from $15 and change to the $10.50 area. One, Occidental paid $55 billion for Anadarko Petroleum just a year ago. That’s pretty bad for a stock that’s trading below $11 per share. The platform uses extensive data to show in a single snapshot what drives the value of a company's business. Companies including Exxon Mobil, Chevron, BP, and Royal Dutch Shell have incurred sizable impairment charges with the expectations of benchmark prices remaining under $50/barrel until 2025. The increased debt load and macroeconomic weakness have been key factors behind the falling stock price as interest expenses zoomed from $0.4 billion in 2018 to $1.06 billion in 2019 – taking the net income margin to negative territory. All rights reserved. Top institutional investors include Adams Asset Advisors LLC (0.49%), Livingston Group Asset Management CO operating as Southport Capital Management (0.06%), Standard Life Aberdeen plc (0.06%), Nisa Investment Advisors LLC (0.03%), Core Alternative Capital (0.02%) and State of Alaska Department of … (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images), EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change. What if you’re looking for a more balanced portfolio instead? Occidental Petroleum plans to release its third-quarter 2020 financial data on Nov. 9 after the market closes. Nasdaq First, … Surprisingly, the founders of Trefis discovered that along with most other people they just did not understand even the seemingly familiar companies around them: Apple, Google, Coca Cola, Walmart, GE, Ford, Gap, and others. Occidental Petroleum (NYSE: OXY) shares experienced unusual options activity on Friday. Our dashboard Trends In U.S. Covid-19 Cases provides an overview of how the pandemic has been spreading in the U.S. and contrasts with trends in Brazil and Russia.

The actual recovery and its timing hinge on the broader containment of the coronavirus spread. All Rights Reserved, This is a BETA experience. My primary concern at that time was Occidental Petroleum’s dismal second-quarter fiscal results. 1125 N. Charles St, Baltimore, MD 21201. Is this a good time to go bottom fishing for OXY stock at its currently low price? quotes delayed at least 15 minutes, all others at least 20 minutes. While Occidental's stock has tumbled this year, shares have bounced back sharply over the past couple of months. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. We believe the stock is likely to observe an upside as the outstanding debt gets trimmed and the cash position improves. The stock price moved down to $10.37 following the option alert. Copyright © 2020 InvestorPlace Media, LLC. Occidental Petroleum Corporation Common Stock (OXY) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. Occidental ended the June quarter with $1 billion of cash, but its short-term debt stood much higher at $2.4 billion. BRAZIL - 2020/03/24: In this photo illustration a Occidental Petroleum (OXY) logo seen displayed on ... [+] a smartphone. Back in August, I provided a stern warning about holding OXY stock. Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform helps you understand how a company's products, that you touch, read, or hear about everyday, impact its stock price. Trefis is currently used by hundreds of thousands of investors, company employees, and business professionals. However, Occidental Petroleum stock is likely to benefit from a steep fall in commercial crude oil inventories as pent-up demand will subsequently raise upstream production and improve cash inflow. Opinions expressed by Forbes Contributors are their own. And as Buffett once famously said, price is what you pay but value is what you get. Wall Street was expecting a loss of $1.66 per share along with $4.2 billion in quarterly revenue. © 2020 Forbes Media LLC. In response to that, I will revert to the old saying that hope is not a strategy.
(Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images). Three factors have fueled the company's rebound. Le cours de l'action OCCIDENTAL PETROLEUM OXY sur Boursorama : historique de la cotation sur NYSE, graphique, actualités, consensus des analystes et informations boursières As the transactions are expected to close during the fourth quarter, the company will achieve its $2 billion asset divestiture target for 2020. 1125 N. Charles St, Baltimore, MD 21201. Optimistic OXY stock investors might hold out hope that Occidental’s fortunes will turn around soon. Occidental Petroleum Stock Will Continue Its Slippery Slide, had posted a loss of $1.76 per share and revenues of $3 billion, 7 Consumer Stocks for an Impenetrable Defense, successfully completed of its acquisition of Anadarko Petroleum, “the timing of the Anadarko deal was Occidental’s fatal flaw.”, increased its non-OPEC oil supply forecasts for both 2020 and 2021, plans to release its third-quarter 2020 financial data on Nov. 9, sold all of its 18.9 million shares of OXY stock, announced an agreement to sell its onshore assets in Colombia, This Investing Advantage Could Be the Secret to Massive Wealth, Trump vs. Biden: Stocks to Buy No Matter Who Wins the White House, 7 Monster Growth Stocks With Double-Digit Upside, 5 Value Stocks To Buy Now Beating The S&P 500 In 2020, 3 Utility Stocks With Tried-and-True Gains, 7 Cryptocurrencies to Stand the Test of Time, As More Competitors Enter the EV Space, Nio Stock Is Just Heating Up. Our dashboard What Factors Drove -84% Change in Occidental Petroleum Stock between 2017 and now? Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently. While the company has seen steady revenue growth over recent years, its P/S multiple has declined. Occidental Petroleum (NYSE:OXY) made headlines this week by disclosing that it would pay an upcoming dividend to Warren Buffett's Berkshire Hathaway (NYSE:BRK-A) (NYSE:BRK-B…

Weakness in crude oil and natural gas prices is the key concern for the oil and gas industry. Just as a reminder, the company had posted a loss of $1.76 per share and revenues of $3 billion… As evidence of this, we can recall that on Aug. 8, 2019, Occidental successfully completed of its acquisition of Anadarko Petroleum for $55 billion.

As I reported a month ago, Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) CEO and legendary investor Warren Buffett doesn’t seem to believe so as Berkshire Hathaway sold all of its 18.9 million shares of OXY stock. If this situation doesn’t improve soon, the next leg will almost certainly be down, not up for OXY stock. See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams, Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform helps you understand how a company's products, that you. Occidental Petroleum's stock is owned by many different institutional and retail investors.

At that time, Occidental assumed Anadarko’s debt and, we can assume, hoped that the acquisition would add value to OXY shareholders. Just as a reminder, the company had posted a loss of $1.76 per share and revenues of $3 billion. I feel that Berkshire and Buffett made a wise decision. You can play with assumptions, or try scenarios, as-well-as ask questions to other users and experts. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. Besides, recent developments don’t necessarily bode well for Occidental Petroleum. Though market sentiment can be fickle, and evidence of an uptick in new cases could spook investors once again. On top of that event, the Organization of Petroleum Exporting Countries (OPEC) increased its non-OPEC oil supply forecasts for both 2020 and 2021. All of these months after the novel coronavirus first struck, the OXY bulls have made little progress in bolstering the share price. a smartphone. In order to address near-term debt maturities, the company has entered into purchase and sale agreements to divest Wyoming, Colorado, and Utah assets for $1.3 billion and its Colombia assets for $825 million. That being said, it’s irrefutable that the bears remain fully in control of the price action of OXY stock. Article printed from InvestorPlace Media, To quote InvestorPlace contributor Chris Lau, “the timing of the Anadarko deal was Occidental’s fatal flaw.” The coronavirus took a toll on global oil demand.

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