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Shuda Xia
Shuda Xia
Articles (316) 

Stocks That Fell to 3-Year Lows in the Week of Nov. 8

Occidental Petroleum, Expedia, Nokia and Diamondback Energy present buying opportunities

November 10, 2019 | About:

Occidental Petroleum Corp. (NYSE:OXY), Expedia Group Inc. (NASDAQ:EXPE), Nokia Oyj (NYSE:NOK) and Diamondback Energy Inc. (NASDAQ:FANG) have declined to their three-year lows.

Occidental Petroleum declined to $40.10

The price of Occidental Petroleum shares declined to $40.10 on Nov. 8, which is only 4.5% above the three-year low of $38.30.

Occidental is an international oil and gas exploration and production company. The company has operations in the U.S., the Middle East and Latin America and is engaged in petrochemical manufacturing in the U.S., Canada, and Chile. The company was the ninth-largest petroleum producer in Texas in 2018.

Occidental Petroleum has a market cap of $35.82 billion; its shares were traded around $40.10 with a price-earnings ratio of 26.21 and a price-sales ratio of 1.65. The trailing 12-month dividend yield is 7.81%. The forward dividend yield is 8.10%.

On Oct. 3, Occidental Petroleum announced the inauguration of the company’s first solar facility to directly power an enhanced oil recovery field operation in the Permian Basin. The company also announced it has signed a long-term power purchase agreement for 109 megawatts of solar energy for use in its Permian Basin operations beginning in 2021. The Goldsmith field solar facility expands on the company’s commitment to lower its carbon footprint while reducing cost and is the first solar facility of its kind to directly power oil and gas operations in Texas.

Expedia Group declined to $101.32

The price of Expedia shares declined to $101.32 on Nov. 8, which is only 4.2% above the three-year low of $97.05.

Expedia Group is an American travel technology company whose products focus on travel fare aggregation and travel metasearch engines. Its websites include CarRentals.com, Expedia.com, Hotels.com and others. The company is a component of both the Nasdaq-100 and the S&P 500.

Expedia has a market cap of $14.72 billion; its shares were traded around $101.32 with a price-earnings ratio of 24.93 and a price-sales ratio of 1.32. The trailing 12-month dividend yield is 1.27%. The forward dividend yield is 1.38%. The company had an annual average earnings growth of 14.70% over the past five years.

On Nov. 6, Expedia Group announced financial results for the third quarter. Gross bookings increased 9% from the prior-year quarter to $26.9 billion, while revenue grew 9% to $3.6 billion. Total stayed lodging room nights increased by 11%. Net income for the quarter declined 22% and adjusted Ebitda remained the same.

Nokia declined to $3.57

The price of Nokia shares declined to $3.57 on Nov. 8, which is only 2% above the three-year low of $3.50.

Nokia is a Finnish international telecommunication, information technology and consumer electronics company. The company is a component of the Euro Stoxx 50 stock market index. The company employs approximately 103,000 individuals across 100 countries as of 2018.

The company has a market cap of $20 billion; its shares were traded around $3.57 with a price-sales ratio of 0.77. The trailing 12-month dividend yield is 3.14%. The forward dividend yield is 6.28%.

On Oct. 24, Nokia reported financial results for the third quarter. Net sales for the quarter were 5.68 billion euros ($6.25 billion), a 4% increase compared to net sales of 5.45 billion euros in the prior-year quarter. Operating profit was 264 million euros, compared to an operating loss of 54 million euros. Diluted earnings per share for the quarter was 0.01 euros, compared to a diluted loss per share of 0.02 euros last year.

Diamondback Energy declined to $75.43

The price of Diamondback Energy shares declined to $75.43 on Nov. 8, which is only 1.6% above the three-year low of $74.25.

Diamondback Energy is an American fossil fuel company that focuses on hydrocarbon exploration, specifically petroleum and natural gas. As of Dec. 31, 2018, the company has 992 million barrels of oil equivalent of estimated proven reserves. Of the proven reserves, 63% was petroleum, 19% was natural gas and 18% was natural gas liquids. The company’s reserves are all located in the Permian Basin.

Diamondback Energy has a market cap of $12.1 billion; its shares were traded around $75.43 with a price-earnings ratio of 10.86 and a price-sales ratio of 3.34. The trailing 12-month dividend yield is 0.83%. The forward dividend yield is 0.99%.

On Nov. 5 Diamondback Energy reported financial results for the third quarter of 2019 ended Sept. 30. Net income for the quarter was $368 million, or $2.26 per diluted share. Adjusted net income for the quarter was $239 million, or $1.47 per diluted share. Consolidated adjusted Ebitda for the quarter was $732 million. The company also repurchased 2,954,000 shares for approximately $296 million.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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