Equities analysts expect Occidental Petroleum Co. (NYSE:OXY) to post earnings per share of $0.66 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Occidental Petroleum’s earnings. The highest EPS estimate is $0.87 and the lowest is $0.54. Occidental Petroleum reported earnings per share of $0.15 in the same quarter last year, which would suggest a positive year-over-year growth rate of 340%. The company is expected to announce its next earnings results on Thursday, May 3rd.
On average, analysts expect that Occidental Petroleum will report full-year earnings of $2.59 per share for the current year, with EPS estimates ranging from $2.02 to $3.26. For the next year, analysts forecast that the company will report earnings of $2.67 per share, with EPS estimates ranging from $1.76 to $3.88. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.41. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. During the same period in the previous year, the business earned ($0.13) earnings per share.
A number of analysts have recently issued reports on OXY shares. Jefferies Group lifted their price target on Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Mizuho reaffirmed a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a research note on Friday, November 3rd. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Barclays lifted their price target on Occidental Petroleum from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. Finally, Scotiabank reaffirmed a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum presently has an average rating of “Hold” and an average target price of $70.60.
Shares of Occidental Petroleum (NYSE OXY) opened at $68.32 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 0.95. The company has a market capitalization of $52,281.54, a P/E ratio of 39.95, a PEG ratio of 4.05 and a beta of 0.53. Occidental Petroleum has a 12-month low of $57.20 and a 12-month high of $78.09.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 180.12%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Occidental Petroleum by 21.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock worth $1,418,851,000 after buying an additional 3,366,402 shares during the last quarter. Millennium Management LLC boosted its stake in Occidental Petroleum by 2,791.8% during the fourth quarter. Millennium Management LLC now owns 1,989,031 shares of the oil and gas producer’s stock worth $146,512,000 after buying an additional 1,920,249 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in Occidental Petroleum by 22.0% during the third quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock worth $520,341,000 after buying an additional 1,461,761 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Occidental Petroleum by 275.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock worth $146,288,000 after buying an additional 1,456,337 shares during the last quarter. Finally, Tide Point Capital Management LP acquired a new position in Occidental Petroleum during the fourth quarter worth $82,756,000. 79.86% of the stock is currently owned by institutional investors.
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About Occidental Petroleum
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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