Occidental Petroleum (NYSE:OXY) – Equities researchers at Jefferies Group upped their Q1 2018 earnings per share estimates for shares of Occidental Petroleum in a research note issued on Thursday, April 19th. Jefferies Group analyst J. Gammel now expects that the oil and gas producer will earn $0.67 per share for the quarter, up from their prior forecast of $0.54. Jefferies Group also issued estimates for Occidental Petroleum’s FY2018 earnings at $2.32 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 for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The company 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.
Other equities analysts have also recently issued reports about the company. Deutsche Bank upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Friday, March 23rd. Cowen set a $85.00 price target on Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, January 18th. Morgan Stanley lifted their price target on Occidental Petroleum from $66.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Zacks Investment Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, Mizuho set a $79.00 price target on Occidental Petroleum and gave the company a “hold” rating in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.00.
Shares of NYSE OXY opened at $76.47 on Friday. The firm has a market capitalization of $58,143.65, a PE ratio of 85.92, a P/E/G ratio of 4.21 and a beta of 0.65. Occidental Petroleum has a fifty-two week low of $57.20 and a fifty-two week high of $78.09. 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 firm also recently announced a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Friday, March 9th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, March 8th. Occidental Petroleum’s payout ratio is 346.07%.
A number of institutional investors have recently bought and sold shares of OXY. Barrow Hanley Mewhinney & Strauss LLC lifted 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 purchasing an additional 3,366,402 shares during the last quarter. Millennium Management LLC lifted 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 purchasing an additional 1,920,249 shares during the last quarter. Mackenzie Financial Corp lifted 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 purchasing an additional 1,456,337 shares during the last quarter. Tide Point Capital Management LP bought a new stake in Occidental Petroleum during the fourth quarter worth about $82,756,000. Finally, Schroder Investment Management Group lifted its stake in Occidental Petroleum by 47.9% during 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 purchasing an additional 797,122 shares during the last quarter. Institutional investors and hedge funds own 82.69% of the company’s stock.
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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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