Brokerages forecast that Occidental Petroleum Corporation (NYSE:OXY) will report $0.12 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Occidental Petroleum Corporation’s earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.21. Occidental Petroleum Corporation reported earnings of ($0.15) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 180%. The business is expected to issue its next earnings report on Tuesday, November 7th.

On average, analysts expect that Occidental Petroleum Corporation will report full year earnings of $0.63 per share for the current fiscal year, with EPS estimates ranging from $0.29 to $1.15. For the next year, analysts expect that the company will post earnings of $1.33 per share, with EPS estimates ranging from $0.52 to $2.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Occidental Petroleum Corporation.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same period last year, the company earned ($0.18) earnings per share. Occidental Petroleum Corporation’s quarterly revenue was up 40.9% compared to the same quarter last year.

Several equities research analysts have commented on the stock. Jefferies Group LLC set a $64.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Barclays PLC set a $38.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday. Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Simmons boosted their price target on shares of Occidental Petroleum Corporation from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 19th. Finally, BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Occidental Petroleum Corporation presently has an average rating of “Hold” and a consensus price target of $66.38.

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In related news, CFO Cedric W. Burgher purchased 1,700 shares of the stock in a transaction on Wednesday, June 7th. The shares were purchased at an average cost of $59.85 per share, with a total value of $101,745.00. Following the acquisition, the chief financial officer now directly owns 44,124 shares in the company, valued at $2,640,821.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $60.53, for a total transaction of $242,120.00. Following the completion of the transaction, the director now directly owns 1,460,619 shares in the company, valued at $88,411,268.07. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gradient Investments LLC boosted its position in Occidental Petroleum Corporation by 16.2% in the first quarter. Gradient Investments LLC now owns 95,921 shares of the oil and gas producer’s stock valued at $6,078,000 after buying an additional 13,369 shares in the last quarter. E&G Advisors LP boosted its position in Occidental Petroleum Corporation by 4.4% in the first quarter. E&G Advisors LP now owns 15,323 shares of the oil and gas producer’s stock valued at $971,000 after buying an additional 650 shares in the last quarter. Highland Capital Management LLC boosted its position in Occidental Petroleum Corporation by 33.4% in the first quarter. Highland Capital Management LLC now owns 39,670 shares of the oil and gas producer’s stock valued at $2,513,000 after buying an additional 9,940 shares in the last quarter. Pennsylvania Trust Co boosted its position in Occidental Petroleum Corporation by 10.9% in the first quarter. Pennsylvania Trust Co now owns 17,000 shares of the oil and gas producer’s stock valued at $1,077,000 after buying an additional 1,675 shares in the last quarter. Finally, Univest Corp of Pennsylvania boosted its position in Occidental Petroleum Corporation by 34.7% in the first quarter. Univest Corp of Pennsylvania now owns 45,173 shares of the oil and gas producer’s stock valued at $2,862,000 after buying an additional 11,647 shares in the last quarter. 81.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Occidental Petroleum Corporation (NYSE OXY) traded down 0.44% during mid-day trading on Tuesday, hitting $61.56. The company had a trading volume of 325,183 shares. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $78.48. The firm’s 50-day moving average price is $60.32 and its 200 day moving average price is $62.88. The company has a market capitalization of $47.29 billion, a P/E ratio of 424.55 and a beta of 0.65.

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 4.98%. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio is presently 2,338.46%.

Occidental Petroleum Corporation Company Profile

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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Earnings History and Estimates for Occidental Petroleum Corporation (NYSE:OXY)

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