OXY stock: buy or sell
Updated on:
Jan 27th, 2021
2
OXY stock brief
- Occidental Petroleum closed on Tuesday at $20.38 after sinking a -5.25%.
- The stock is configuring an uptrend pattern since last October, when it bottomed at $8.52. This rally marked a 139.20% gain
- Jefferies Financial Group, Truist and Truist Financial published neutral ratings for Occidental Petroleum last Thursday, with an average forecast of $25.00
Should I buy Occidental Petroleum stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $OXY stock a buy?
In the current situation of Occidental Petroleum there is not any eligible buy setup. This doesn't mean $OXY will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Occidental Petroleum stock?
Knowing when to sell a stock is even harder than knowing when to buy it. Trading strategies help us to avoid impetuous decisions based on our personal emotions or the noise that surrounds the market. We like very simple strategies to guide us on when is a good moment to sell a stock. Be aware that these strategies are not intended for selling short $OXY stock
A guiding principle is that you should never hold a trading operation that shows a greater losses than those expected upon purchase. The moment to sell shares should always be determined by the stop-loss (automatic or manual)
Is it time to sell Occidental Petroleum stock?
In the current situation of Occidental Petroleum there is not any eligible sell setup, so Occidental Petroleum stock holders with operations in green can keep their positions
Occidental Petroleum ratings
In the last month, 6 analyst ratings were published for Occidental Petroleum
| Brokerage firm | Rating |
|---|---|
| Jan 12th, 2021 | |
| Mizuho | Neutral → |
| Jan 14th, 2021 | |
| Barclays | |
| Jan 19th, 2021 | |
| Societe Generale | Neutral |
| Jan 21st, 2021 | |
| Jefferies Financial Group | Sell → Neutral |
| Truist | Neutral |
| Truist Financial | Neutral |
Occidental Petroleum stock analysis
Since last October, Occidental Petroleum has been printing an uptrend that by now marked a gorgeous 139.20%. The chart shows higher tops and bottoms, and along the way gave very few entry points for those who wanted to trade in. Latest pullback was in mid-December, when price bounced at $16.88. Currently, it trades in a consolidation between its last top ($24.60) and its last bottom ($16.88)
SMAs overview
Supports and resistances
The current resistances are:
The current supports are:
Bollinger bands
Since the price surpassed the upper band on January 14, the price has corrected downwards by 17.15%
Relative strength index
The RSI dropped below the overbought level of 70 on January 15 after just crossing to the overbough zone for a single day (weak signal). The RSI value on Tuesday was 51.12. Since then, Occidental Petroleum stock tanked a 15.92%
Occidental Petroleum stock price history
Occidental Petroleum went public priced at an adjusted price1 of $1.57 on Dec 1981. Since then, OXY stock surged by 1,198.09%, with an average of 30.72% per year. An investment of $1,000USD at that time would have a value of $12,980.89 nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Occidental Petroleum stock
How much a stock will be priced tomorrow or next week is quite unpredictable. Banks and financial organisations post their analysis forecasting how a particular stock will performance in the future.
Along with buy or sell recommendations, financial institutions publish their price predictions based on the stock price action and the company fundamental data. Most of these predictions follow the publication of new fundamental data by the company, and usually. If you are a small trader you must not buy or sell based on these projections.
The average price target for Occidental Petroleum stock calculated from the table below is $24.66. Occidental Petroleum closed at $20.38 on Tuesday, so the target price is predicting a growth by 21.00%.
| Brokerage firm | Price target |
|---|---|
| Jan 12th, 2021 | |
| Mizuho | $11.00 → $26.00 |
| Jan 14th, 2021 | |
| Barclays | $18.00 → $23.00 |
| Jan 19th, 2021 | |
| Societe Generale | $24.30 |
| Jan 21st, 2021 | |
| Jefferies Financial Group | Not available |
| Truist | $11.00 → $25.00 |
| Truist Financial | $11.00 → $25.00 |
Earnings and financials
Last November, Occidental Petroleum ($OXY) hosted the quarterly shareholders call and released the report. OXY reported earnings of $-0.84 per share on sales of $3.3 billion. The analysts estimate was $-0.72 per share on revenue of $4.3 billion.
In contrast, the EPS for the same quarter last year was $0.11, so posted EPS is a reduction of -863.64%. Looking at revenues, figures tanked a -27.77% compared to $56.9B same quarter last year.OXY ($OXY) is posting earnings report late next February. Wall Street analysts expect of $-0.58, that is a 30.95% higher than previous quarter.
Occidental Petroleum performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Occidental Petroleum ($OXY) | 12.20% | 108.40% | 23.80% |
Important note:
The comments written in this article are personal and not recommendations for you to buy or sell stocks. The author of this article does not have any knowledge of the individual situations of the reader, his or her own financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are published for learning reasons onlyOXY summary
| Tuesday, January 26th, 2021 | |
|---|---|
| Open | $21.9 |
| Close | $20.38 |
| Day range | $20.35 - $22.42 |
| Previous close | $21.51 |
| Session gain | -5.25% |
| Average true range | $1.86 |
| 50d mov avg | $18.17 |
| 100d mov avg | $14.31 |
| 200d mov avg | $15.04 |
| Earnings date | February 25th, 2021 |