Occidental Petroleum (OXY) Expected to Post Earnings of $0.64 Per Share

Analysts expect that Occidental Petroleum (NYSE:OXY) will report earnings of $0.64 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Occidental Petroleum’s earnings. The lowest EPS estimate is $0.54 and the highest is $0.73. Occidental Petroleum posted earnings of $0.15 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 326.7%. The company is expected to issue its next earnings report after the market closes on Tuesday, May 8th.

On average, analysts expect that Occidental Petroleum will report full-year earnings of $2.67 per share for the current year, with EPS estimates ranging from $2.24 to $3.12. For the next fiscal year, analysts anticipate that the business will post earnings of $2.75 per share, with EPS estimates ranging from $1.76 to $3.88. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Occidental Petroleum.

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Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted ($0.13) earnings per share.

Several brokerages have commented on OXY. Morgan Stanley upped their price target on Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price target for the company in a research note on Monday, January 22nd. ValuEngine upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, April 9th. Piper Jaffray upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $77.00 to $86.00 in a research note on Sunday. Finally, Macquarie began coverage on Occidental Petroleum in a research note on Wednesday, January 17th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $74.06.

Hedge funds and other institutional investors have recently modified their holdings of the company. Synovus Financial Corp boosted its position in shares of Occidental Petroleum by 15.5% in the fourth quarter. Synovus Financial Corp now owns 9,157 shares of the oil and gas producer’s stock worth $673,000 after buying an additional 1,232 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth about $378,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth about $355,000. Taylor Hoffman Wealth Management purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth about $261,000. Finally, Schroder Investment Management Group boosted its position in shares of Occidental Petroleum by 47.9% in the fourth quarter. Schroder Investment Management Group now owns 2,460,021 shares of the oil and gas producer’s stock worth $181,204,000 after buying an additional 797,122 shares during the period. 82.69% of the stock is owned by institutional investors.

Occidental Petroleum stock opened at $74.91 on Friday. The firm has a market capitalization of $56,337.89, a P/E ratio of 84.17, a price-to-earnings-growth ratio of 4.24 and a beta of 0.65. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Occidental Petroleum has a 52 week low of $57.20 and a 52 week high of $78.09.

The business also recently announced a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Friday, March 9th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Thursday, March 8th. Occidental Petroleum’s payout ratio is 346.07%.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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Earnings History and Estimates for Occidental Petroleum (NYSE:OXY)

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