Equities analysts expect Occidental Petroleum Co. (NYSE:OXY) to post $1.18 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Occidental Petroleum’s earnings, with estimates ranging from $1.06 to $1.43. 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 686.7%. The company is expected to report its next quarterly earnings report on Wednesday, August 1st.
On average, analysts expect that Occidental Petroleum will report full year earnings of $4.49 per share for the current financial year, with EPS estimates ranging from $3.98 to $5.56. For the next year, analysts anticipate that the firm will report earnings of $4.94 per share, with EPS estimates ranging from $4.07 to $6.94. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.21. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the company earned $0.15 EPS. Occidental Petroleum’s quarterly revenue was up 28.4% compared to the same quarter last year.
OXY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price 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 Companies raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $77.00 to $86.00 in a research report on Sunday, April 15th. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Monday, May 14th. UBS Group initiated coverage on Occidental Petroleum in a research report on Wednesday, March 7th. They set a “neutral” rating and a $71.00 target price for the company. Finally, Citigroup raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $81.13.
Shares of OXY stock traded up $1.20 on Friday, reaching $83.88. 238,841 shares of the company’s stock were exchanged, compared to its average volume of 5,236,854. Occidental Petroleum has a 52 week low of $57.84 and a 52 week high of $87.67. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.26. The firm has a market capitalization of $62.30 billion, a P/E ratio of 94.30, a P/E/G ratio of 2.86 and a beta of 0.62.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 11th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, June 8th. Occidental Petroleum’s payout ratio is 346.07%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OXY. Synovus Financial Corp grew its stake in Occidental Petroleum by 15.5% during the 4th 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 last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Occidental Petroleum by 23.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 34,897 shares of the oil and gas producer’s stock valued at $2,571,000 after purchasing an additional 6,550 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in Occidental Petroleum during the 4th quarter valued at about $209,000. Boulegeris Investments Inc. grew its stake in Occidental Petroleum by 25.6% during the 4th quarter. Boulegeris Investments Inc. now owns 14,875 shares of the oil and gas producer’s stock valued at $1,096,000 after purchasing an additional 3,030 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Occidental Petroleum by 172.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,722,476 shares of the oil and gas producer’s stock valued at $111,893,000 after purchasing an additional 1,089,145 shares during the last quarter. 80.75% of the stock is owned by hedge funds and other institutional investors.
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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