Occidental Petroleum (NYSE:OXY) – Stock analysts at Capital One Financial decreased their Q1 2018 earnings per share (EPS) estimates for shares of Occidental Petroleum in a research note issued on Thursday, April 12th. Capital One Financial analyst R. Tullis now anticipates that the oil and gas producer will post earnings per share of $0.73 for the quarter, down from their prior forecast of $0.87. Capital One Financial also issued estimates for Occidental Petroleum’s Q2 2018 earnings at $0.76 EPS and FY2018 earnings at $2.97 EPS.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.41. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the business posted ($0.13) EPS.
OXY has been the subject of a number of other research reports. JPMorgan Chase lowered their price objective on Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, April 9th. Piper Jaffray raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $77.00 to $86.00 in a research report on Sunday. Macquarie started coverage on Occidental Petroleum in a research report on Wednesday, January 17th. They issued a “neutral” rating for the company. Cowen set a $85.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Bank of America cut Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 price objective for the company. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Occidental Petroleum has an average rating of “Hold” and a consensus price target of $74.06.
Shares of NYSE:OXY opened at $74.91 on Monday. Occidental Petroleum has a 12-month low of $57.20 and a 12-month high of $78.09. The firm has a market capitalization of $56,337.89, a PE ratio of 84.17, a P/E/G ratio of 4.24 and a beta of 0.65. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.
The company also recently declared a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Friday, March 9th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.11%. Occidental Petroleum’s dividend payout ratio is currently 346.07%.
A number of institutional investors and hedge funds have recently modified their holdings of OXY. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Occidental Petroleum by 21.2% during the 4th 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 acquiring an additional 3,366,402 shares during the period. Millennium Management LLC lifted its position in Occidental Petroleum by 2,791.8% during the 4th quarter. Millennium Management LLC now owns 1,989,031 shares of the oil and gas producer’s stock worth $146,512,000 after acquiring an additional 1,920,249 shares during the period. Mackenzie Financial Corp lifted its position in Occidental Petroleum by 275.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock worth $146,288,000 after acquiring an additional 1,456,337 shares during the period. Tide Point Capital Management LP acquired a new stake in Occidental Petroleum during the 4th quarter worth about $82,756,000. Finally, Schroder Investment Management Group lifted its position in Occidental Petroleum by 47.9% during the 4th quarter. Schroder Investment Management Group now owns 2,460,021 shares of the oil and gas producer’s stock worth $181,204,000 after acquiring an additional 797,122 shares during the period. 82.69% of the stock is owned by institutional investors.
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About Occidental Petroleum
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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