Why Occidental Petroleum Corporation (NYSE:OXY) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $78.14 on Occidental Petroleum Corporation (NYSE:OXY) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $-0.60 for the next fiscal and $N/A for underway quarter. Valuation Estimates Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Occidental Petroleum Corporation (NYSE:OXY) stands at N/A. Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Occidental Petroleum Corporatio, the PEG ratio for coming 3-5 years is -0.69. Technical Analysis The technical analysis highlights that Occidental Petroleum Corporatio current price is trading $-0.90 points away -1.20% from $75.63, which stands as the 50-day moving average of the firm. The stock’s 200-day MA is $71.95 and, for now, the stock price is trading $2.78 or +3.86% away from that point. The 52-week high of Occidental Petroleum Corporation (NYSE:OXY) was $78.31 while lowest point recorded in 52-week was $58.24. It implies if stock price makes a movement of over $-3.58, it will record a new 52-week high. In the case of $+28.31% points drop, it will touch a new 52-week low.

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