Occidental Petroleum Co. (NYSE:OXY) – Jefferies Financial Group lowered their Q4 2018 earnings estimates for shares of Occidental Petroleum in a research note issued on Tuesday, November 6th. Jefferies Financial Group analyst J. Gammel now anticipates that the oil and gas producer will post earnings of $1.62 per share for the quarter, down from their prior forecast of $1.68. Jefferies Financial Group also issued estimates for Occidental Petroleum’s Q1 2019 earnings at $1.39 EPS, Q2 2019 earnings at $1.28 EPS, Q3 2019 earnings at $1.06 EPS, Q4 2019 earnings at $0.99 EPS, FY2019 earnings at $4.74 EPS and FY2020 earnings at $3.94 EPS.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The firm had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue for the quarter was up 98.9% compared to the same quarter last year.
Several other equities analysts also recently issued reports on the company. Morgan Stanley set a $101.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a research report on Friday, October 12th. Piper Jaffray Companies began coverage on Occidental Petroleum in a research note on Friday, September 28th. They issued an “overweight” rating for the company. Raymond James raised Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered their target price on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, August 10th. Finally, Edward Jones raised Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $84.00.
Shares of OXY opened at $73.55 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.47. Occidental Petroleum has a 52-week low of $62.47 and a 52-week high of $87.67. The firm has a market capitalization of $55.37 billion, a price-to-earnings ratio of 82.64, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80.
Several institutional investors have recently made changes to their positions in OXY. Standard Life Aberdeen plc grew its stake in shares of Occidental Petroleum by 1,541.0% during the second quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock worth $634,716,000 after purchasing an additional 7,122,373 shares during the period. FMR LLC grew its stake in shares of Occidental Petroleum by 232.5% during the second quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock worth $506,194,000 after purchasing an additional 4,230,065 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Occidental Petroleum during the second quarter worth $241,052,000. BlackRock Inc. grew its stake in shares of Occidental Petroleum by 3.4% during the third quarter. BlackRock Inc. now owns 52,574,756 shares of the oil and gas producer’s stock worth $4,320,067,000 after purchasing an additional 1,732,733 shares during the period. Finally, Swedbank acquired a new stake in shares of Occidental Petroleum during the third quarter worth $112,990,000. 80.95% of the stock is owned by institutional investors and hedge funds.
In related news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average cost of $78.55 per share, with a total value of $392,750.00. Following the completion of the purchase, the director now directly owns 77,963 shares in the company, valued at $6,123,993.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $3.12 annualized dividend and a dividend yield of 4.24%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 350.56%.
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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