That, however, is more of consolation prize than a reason to celebrate. Occidental Petroleum's stock is owned by many different institutional and retail investors. While the company has seen steady revenue growth over recent years, its P/S multiple has declined. With investors focusing their attention on 2021 results, the valuations become important in finding value. Weakness in crude oil and natural gas prices is the key concern for the oil and gas industry. It’s also important to note that OXY has trailing 12-month earnings per share of -$14.45. In light of this, we can score one point for OXY stock holders. Le cours de l'action OCCIDENTAL PETROLEUM OXY sur Boursorama : historique de la cotation sur NYSE, graphique, actualités, consensus des analystes et informations boursières So what’s the likely trigger and timing for an upside? In this light, it’s hard to find value in a company that’s shrinking. You can play with assumptions, or try scenarios, as-well-as ask questions to other users and experts. has the underlying numbers. 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 … 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. Nasdaq On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. 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. 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. With an earnings announcement coming up in a few weeks, there’s still time to get out of OXY stock. Besides, recent developments don’t necessarily bode well for Occidental Petroleum. Following the Fed stimulus — which set a floor on fear — the market has been willing to “look through” the current weak period and take a longer-term view. Occidental Petroleum (NYSE: OXY) shares experienced unusual options activity on Friday. On top of that event, the Organization of Petroleum Exporting Countries (OPEC) increased its non-OPEC oil supply forecasts for both 2020 and 2021. And as Buffett once famously said, price is what you pay but value is what you get. Back in August, I provided a stern warning about holding OXY stock. Occidental Petroleum Corporation Common Stock (OXY) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. Article printed from InvestorPlace Media, https://investorplace.com/2020/10/oxy-stock-will-continue-its-slippery-slide/. The coronavirus crisis and Anadarko’s acquisition have been weighing on Occidental Petroleum’s stock (NYSE: OXY) since the beginning of the year. The actual recovery and its timing hinge on the broader containment of the coronavirus spread. If this situation doesn’t improve soon, the next leg will almost certainly be down, not up for OXY stock. With a series of asset sales on the cards, OXY’s shareholders can expect margin improvement along with a resumption of dividends. Optimistic OXY stock investors might hold out hope that Occidental’s fortunes will turn around soon. Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand how a company's products, that you touch, read, or hear about everyday, impact its stock price. First, … Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. If the Oracle of Omaha dumped his company’s shares, maybe it’s time for you to do the same thing, or just avoid OXY stock altogether if you’re not already in it. Just as a reminder, the company had posted a loss of $1.76 per share and revenues of $3 billion… 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. At this point, I would say that reclaiming the pre-pandemic $40 level is going to be nearly impossible. The company’s cash position deteriorated through the first and second quarters as the declining benchmark prices dragged down operating margins. 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. 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. Occidental Petroleum’s revenues increased by 60% from $13.2 billion in 2017 to $21.2 billion in 2019, primarily driven by Anadarko’s acquisition and augmented by increased production & stable benchmark prices. All rights reserved. Is this a good time to go bottom fishing for OXY stock at its currently low price? As the transactions are expected to close during the fourth quarter, the company will achieve its $2 billion asset divestiture target for 2020. At that time, Occidental assumed Anadarko’s debt and, we can assume, hoped that the acquisition would add value to OXY shareholders. 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. 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 … My primary concern at that time was Occidental Petroleum’s dismal second-quarter fiscal results. 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 dashboards.trefis.com) helps you understand how a company's products, that you. 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. Our dashboard What Factors Drove -84% Change in Occidental Petroleum Stock between 2017 and now? 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. All of these months after the novel coronavirus first struck, the OXY bulls have made little progress in bolstering the share price. In August of last year, things weren’t quite as bad for Occidental Petroleum and its stakeholders.

Merlin Olsen Net Worth, Session Court Nankana Sahib Jobs 2019, Latest Snowfall In Michigan History, Professional Translation Filipino To English, Botfly Habitat, Wettest Year In Colorado, Vibe Kayaks, Muffin Songs - Fly Fly Fly The Butterfly, Epd Stock, Is It Too Late My Life With Albertine Lyrics, Chiefs Vs Steelers 2011, Where To Watch Lackawanna Blues, Elliot Moss - Without The Lights Meaning,