Occidental Petroleum Stock Probability of Future Stock Price Finishing Over 39.35

OXY Stock  USD 63.20  0.55  0.88%   
Occidental Petroleum's implied volatility is one of the determining factors in the pricing options written on Occidental Petroleum. Implied volatility approximates the future value of Occidental Petroleum based on the option's current value. Options with high implied volatility have higher premiums and can be used to hedge the downside of investing in Occidental Petroleum over a specific time period. For example, 2024-03-22 CALL at $63.0 is a CALL option contract on Occidental Petroleum's common stock with a strick price of 63.0 expiring on 2024-03-22. The contract was last traded on 2024-03-15 at 15:59:48 for $0.56 and, as of today, has 4 days remaining before the expiration. The option is currently trading at a bid price of $0.56, and an ask price of $0.59. The implied volatility as of the 18th of March 2024 is 21.92. View All Occidental options

Closest to current price Occidental long CALL Option Payoff at Expiration

Occidental Petroleum's future price is the expected price of Occidental Petroleum instrument. It is based on its current growth rate as well as the projected cash flow expected by the investors. This tool provides a mechanism to make assumptions about the upside potential and downside risk of Occidental Petroleum performance during a given time horizon utilizing its historical volatility. Check out Occidental Petroleum Backtesting, Occidental Petroleum Valuation, Occidental Petroleum Correlation, Occidental Petroleum Hype Analysis, Occidental Petroleum Volatility, Occidental Petroleum History as well as Occidental Petroleum Performance.
For more information on how to buy Occidental Stock please use our How to Invest in Occidental Petroleum guide.
  
At this time, Occidental Petroleum's Price Earnings Ratio is fairly stable compared to the past year. Price To Free Cash Flows Ratio is likely to rise to 10.56 in 2024, whereas Price To Sales Ratio is likely to drop 1.39 in 2024. Please specify Occidental Petroleum's target price for which you would like Occidental Petroleum odds to be computed.

Occidental Petroleum Target Price Odds to finish over 39.35

The tendency of Occidental Stock price to converge on an average value over time is a known aspect in finance that investors have used since the beginning of the stock market for forecasting. However, many studies suggest that some traded equity instruments are consistently mispriced before traders' demand and supply correct the spread. One possible conclusion to this anomaly is that these stocks have additional risk, for which investors demand compensation in the form of extra returns.
Current PriceHorizonTarget PriceOdds to stay above $ 39.35  in 90 days
 63.20 90 days 39.35 
close to 99
Based on a normal probability distribution, the odds of Occidental Petroleum to stay above $ 39.35  in 90 days from now is close to 99 (This Occidental Petroleum probability density function shows the probability of Occidental Stock to fall within a particular range of prices over 90 days) . Probability of Occidental Petroleum price to stay between $ 39.35  and its current price of $63.2 at the end of the 90-day period is close to 99 .
Considering the 90-day investment horizon Occidental Petroleum has a beta of 0.93. This indicates Occidental Petroleum market returns are sensitive to returns on the market. As the market goes up or down, Occidental Petroleum is expected to follow. Additionally The company has an alpha of 0.0222, implying that it can generate a 0.0222 percent excess return over NYSE Composite after adjusting for the inherited market risk (beta).
   Occidental Petroleum Price Density   
       Price  

Predictive Modules for Occidental Petroleum

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Occidental Petroleum. Regardless of method or technology, however, to accurately forecast the stock or bond market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.
Sophisticated investors, who have witnessed many market ups and downs, frequently view the market will even out over time. This tendency of Occidental Petroleum's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy. Please use the tools below to analyze the current value of Occidental Petroleum in the context of predictive analytics.
Hype
Prediction
LowEstimatedHigh
62.2163.3764.53
Details
Intrinsic
Valuation
LowRealHigh
56.9766.3767.53
Details
Naive
Forecast
LowNextHigh
63.0964.2665.42
Details
24 Analysts
Consensus
LowTargetHigh
64.8471.2579.09
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Occidental Petroleum. Your research has to be compared to or analyzed against Occidental Petroleum's peers to derive any actionable benefits. When done correctly, Occidental Petroleum's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Occidental Petroleum.

Occidental Petroleum Risk Indicators

For the most part, the last 10-20 years have been a very volatile time for the stock market. Occidental Petroleum is not an exception. The market had few large corrections towards the Occidental Petroleum's value, including both sudden drops in prices as well as massive rallies. These swings have made and broken many portfolios. An investor can limit the violent swings in their portfolio by implementing a hedging strategy designed to limit downside losses. If you hold Occidental Petroleum, one way to have your portfolio be protected is to always look up for changing volatility and market elasticity of Occidental Petroleum within the framework of very fundamental risk indicators.
α
Alpha over NYSE Composite
0.02
β
Beta against NYSE Composite0.93
σ
Overall volatility
1.82
Ir
Information ratio 0.01

Occidental Petroleum Alerts and Suggestions

In today's market, stock alerts give investors the competitive edge they need to time the market and increase returns. Checking the ongoing alerts of Occidental Petroleum for significant developments is a great way to find new opportunities for your next move. Suggestions and notifications for Occidental Petroleum can help investors quickly react to important events or material changes in technical or fundamental conditions and significant headlines that can affect investment decisions.
Occidental Petroleum has a strong financial position based on the latest SEC filings
About 29.0% of the company outstanding shares are owned by corporate insiders
Latest headline from finance.yahoo.com: The Great Outdoors Fund Announces 2024 Partnership with Occidental to Enhance Recreation Opportunities in Multiple States

Occidental Petroleum Price Density Drivers

Market volatility will typically increase when nervous long traders begin to feel the short-sellers pressure to drive the market lower. The future price of Occidental Stock often depends not only on the future outlook of the current and potential Occidental Petroleum's investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. Occidental Petroleum's indicators that are reflective of the short sentiment are summarized in the table below.
Common Stock Shares Outstanding960.9 M
Cash And Short Term Investments1.4 B

Occidental Petroleum Technical Analysis

Occidental Petroleum's future price can be derived by breaking down and analyzing its technical indicators over time. Occidental Stock technical analysis helps investors analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Occidental Petroleum. In general, you should focus on analyzing Occidental Stock price patterns and their correlations with different microeconomic environments and drivers.

Occidental Petroleum Predictive Forecast Models

Occidental Petroleum's time-series forecasting models is one of many Occidental Petroleum's stock analysis techniques aimed to predict future share value based on previously observed values. Time-series forecasting models are widely used for non-stationary data. Non-stationary data are called the data whose statistical properties, e.g., the mean and standard deviation, are not constant over time, but instead, these metrics vary over time. This non-stationary Occidental Petroleum's historical data is usually called time series. Some empirical experimentation suggests that the statistical forecasting models outperform the models based exclusively on fundamental analysis to predict the direction of the stock market movement and maximize returns from investment trading.

Things to note about Occidental Petroleum

Checking the ongoing alerts about Occidental Petroleum for important developments is a great way to find new opportunities for your next move. Our stock alerts and notifications screener for Occidental Petroleum help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.
Occidental Petroleum has a strong financial position based on the latest SEC filings
About 29.0% of the company outstanding shares are owned by corporate insiders
Latest headline from finance.yahoo.com: The Great Outdoors Fund Announces 2024 Partnership with Occidental to Enhance Recreation Opportunities in Multiple States
When determining whether Occidental Petroleum offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Occidental Petroleum's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Occidental Petroleum Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Occidental Petroleum Stock:

Complementary Tools for Occidental Stock analysis

When running Occidental Petroleum's price analysis, check to measure Occidental Petroleum's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Occidental Petroleum is operating at the current time. Most of Occidental Petroleum's value examination focuses on studying past and present price action to predict the probability of Occidental Petroleum's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Occidental Petroleum's price. Additionally, you may evaluate how the addition of Occidental Petroleum to your portfolios can decrease your overall portfolio volatility.
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Is Occidental Petroleum's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Occidental Petroleum. If investors know Occidental will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Occidental Petroleum listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.38)
Dividend Share
0.72
Earnings Share
3.9
Revenue Per Share
31.778
Quarterly Revenue Growth
(0.13)
The market value of Occidental Petroleum is measured differently than its book value, which is the value of Occidental that is recorded on the company's balance sheet. Investors also form their own opinion of Occidental Petroleum's value that differs from its market value or its book value, called intrinsic value, which is Occidental Petroleum's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Occidental Petroleum's market value can be influenced by many factors that don't directly affect Occidental Petroleum's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Occidental Petroleum's value and its price as these two are different measures arrived at by different means. Investors typically determine if Occidental Petroleum is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Occidental Petroleum's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.