Trending Stocks Alert: Occidental Petroleum Corporation (NYSE:OXY)


Occidental Petroleum Corporation (NYSE:OXY) retreated -1.2% and closed its last session at $67.57. The stock has the market capitalization of $51.64 Billion with the total outstanding shares of 764.19 Million. Occidental Petroleum Corporation. has Analysts’ Mean Recommendation of 2.59 between the scale of 1 to 5 (1 represents Strong Buy and 5 means Sell). The stock currently has P/E of 0 for trailing twelve months while its Forward P/E is 48.37.

Occidental Petroleum Corporation (NYSE:OXY) touched its 52-Week High of $78.48 on Aug 30, 2016 while it’s 52-Week Low of $58.24 on Jan 20, 2016. The company currently has Return on Assets of -12.9 percent, Return on Equity of -23.4% and Return on Investment of -25.4 percent. The stock currently showing Weekly Volatility of 1.91%% and Monthly Volatility of 2.41% Percent with Average True Range of 1.63 and Beta of 0.85.

The 25 analysts offering 12-month price forecasts for Occidental Petroleum have a median target of 76.00, with a high estimate of 91.00 and a low estimate of 53.00. The median estimate represents a +12.48% increase from the last price of 67.57.

Press Release:

The Company on 31 October declared it has acquired producing and non-producing leasehold acreage in the Permian Basin from private sellers. Separately, the company acquired interests in several Permian Basin enhanced oil recovery (EOR) and CO2 properties, and related infrastructure.

Acquisition Highlights

Permian Resources

  • The leasehold acquisition includes approximately 35,000 net acres in Reeves and Pecos counties, Texas, in the Southern Delaware Basin, in areas where Occidental currently operates or has working interests.
  • Approximately 7,000 barrels of oil equivalent (BOE) per day of net production (72 percent oil) from 68 horizontal wells.
  • A minimum of 700 gross estimated horizontal drilling locations targeting the Wolfcamp A, Wolfcamp B and Bone Spring, with meaningful upside potential through infill drilling and additional intervals.
  • Proximity to other key Occidental development areas, such as Barilla Draw, allows for cost and infrastructure efficiencies and contiguous position enables longer lateral well development.
  • Enables efficient development by gaining operatorship and provides capital flexibility as a high percentage of the acreage is held by production.
  • Including this transaction, Occidental’s overall position in the leasehold area encompasses nearly 59,000 acres with an aggregate acquisition cost, inclusive of value given to current production and infrastructure, of approximately $2 billion.

Company Profile:

Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental conducts its principal operations through its oil and gas and chemical subsidiaries.