Of 27 brokerages covering the stock, 15 rate the shares at Hold and just nine have a Buy or Strong Buy rating. At a share price of around $74.50, the stock trades above its median price target of $73.50. At the high price target of $110.00, the upside potential is 47.7%.
Third-quarter revenue is forecast at $9.05 billion, down 15.7% sequentially but almost 33% higher year over year. Adjusted EPS are pegged at $2.45, down 22.5% sequentially and up 185% year over year. For the full 2022 fiscal year, analysts currently expect Oxy to report EPS of $10.33, up more than 300%, on revenue of $36.91 billion, up 40.3%.
Occidental stock trades at 7.2 times expected 2022 EPS, 9.3 times estimated 2023 earnings of $7.65 and 11.8 times estimated 2024 earnings of $6.27 per share. The stock’s 52-week range is $26.05 to $77.13. Occidental pays an annual dividend of $0.52 (yield of 0.71%). Total shareholder return for the past year is 123.5%.
Plug Power
Over the past 12 months, hydrogen fuel cell maker Plug Power Inc. (NASDAQ: PLUG) is down by about 62%. The shares reached their 52-week high in late November last year and have dropped by about 66% since then. The company got a boost from a new federal tax credit to support added production of green hydrogen, but the effect did not last because the company canceled plans for two of three planned green hydrogen plants and said the third would be delayed. The stock has plunged by around 50% in the past two months.
Of 30 analysts covering the stock, 22 have a Buy or Strong Buy rating and the rest have Hold ratings. At a share price of around $14.75, the implied gain based on a median price target of $31.00 is 110%. At the high target of $78.00, the implied gain is about more than 400%.
Third-quarter revenue is forecast at $247.21 million, up 63.4% sequentially and 71.8% higher year over year. Analysts are forecasting an adjusted loss per share of $0.22, better than the $0.31 loss per share in the prior quarter but worse than the year-ago loss of $0.19 per share. For the full year, Plug Power is expected to post a loss per share of $0.95, compared to a loss last year of $0.79, on sales of $867.03 million, up 72.6% year over year.
Plug Power is not expected to post a profit until 2024. The enterprise value to sales multiple for 2022 is forecast at 7.2. For 2023 and 2024, the multiple is expected to be 4.5 and 2.9, respectively. The stock’s 52-week range is $12.70 to $46.50, and Plug Power does not pay a dividend. The total shareholder return for the past year was negative 61.5%.
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