Capital One Financial Corporation Equities Analysts Boost Earnings Estimates for Occidental Petroleum Corporation (OXY)
Occidental Petroleum Corporation (NYSE:OXY) – Capital One Financial Corporation increased their FY2017 EPS estimates for shares of Occidental Petroleum Corporation in a report released on Thursday. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and gas producer will post earnings per share of $0.49 for the year, up from their previous forecast of $0.45.
Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period last year, the company posted ($0.18) earnings per share.
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Several other equities analysts have also issued reports on the company. Barclays PLC boosted their price objective on Occidental Petroleum Corporation from $35.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday. BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC set a $64.00 price objective on Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Saturday, July 29th. Citigroup Inc. lowered Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $66.00 to $58.00 in a research report on Friday, July 21st. Finally, Cowen and Company set a $75.00 price objective on Occidental Petroleum Corporation and gave the company a “buy” rating in a research report on Wednesday, July 19th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $66.38.
Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 62.09 on Monday. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. The firm has a market capitalization of $47.70 billion, a PE ratio of 428.21 and a beta of 0.65. The company’s 50 day moving average is $60.32 and its 200 day moving average is $62.88.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio is presently 2,338.46%.
In related news, CFO Cedric W. Burgher acquired 1,700 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was bought at an average price of $59.85 per share, with a total value of $101,745.00. Following the acquisition, the chief financial officer now owns 44,124 shares in the company, valued at approximately $2,640,821.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $60.53, for a total value of $242,120.00. Following the completion of the sale, the director now directly owns 1,460,619 shares of the company’s stock, valued at approximately $88,411,268.07. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Grove Bank & Trust boosted its stake in Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 622 shares during the period. Mosaic Family Wealth LLC boosted its stake in Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 72 shares during the period. Oakworth Capital Inc. boosted its stake in Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 250 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 264 shares during the period. 81.55% of the stock is owned by institutional investors.
About Occidental Petroleum Corporation
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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