Analysts Offer Predictions for Occidental Petroleum Corporation’s Q3 2017 Earnings (OXY)
Occidental Petroleum Corporation (NYSE:OXY) – Investment analysts at Jefferies Group issued their Q3 2017 earnings per share estimates for Occidental Petroleum Corporation in a research report issued to clients and investors on Thursday. Jefferies Group analyst J. Gammel forecasts that the oil and gas producer will post earnings of $0.12 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $58.00 price objective on the stock. Jefferies Group also issued estimates for Occidental Petroleum Corporation’s FY2017 earnings at $0.72 EPS.
Several other equities analysts have also recently commented on the stock. Morgan Stanley raised their target price on shares of Occidental Petroleum Corporation from $62.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Bank of America Corporation raised their target price on shares of Occidental Petroleum Corporation from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Barclays PLC raised their target price on shares of Occidental Petroleum Corporation from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, October 11th. BMO Capital Markets set a $60.00 target price on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, October 10th. Finally, Cowen and Company reissued a “buy” rating and set a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $65.73.
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Shares of Occidental Petroleum Corporation (OXY) opened at 65.47 on Monday. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $75.50. The stock has a market cap of $50.06 billion, a P/E ratio of 461.06 and a beta of 0.67. The company’s 50-day moving average is $63.20 and its 200-day moving average is $61.40.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.18) earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum Corporation’s payout ratio is 2,369.23%.
In other news, Director William R. Klesse bought 10,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was bought at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the acquisition, the director now directly owns 70,692 shares in the company, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. APG Asset Management N.V. boosted its holdings in shares of Occidental Petroleum Corporation by 16.7% in the third quarter. APG Asset Management N.V. now owns 173,666 shares of the oil and gas producer’s stock worth $11,151,000 after buying an additional 24,900 shares during the period. Barometer Capital Management Inc. acquired a new position in shares of Occidental Petroleum Corporation in the third quarter worth about $12,213,000. Carnick & Kubik Group LLC acquired a new position in shares of Occidental Petroleum Corporation in the third quarter worth about $752,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Occidental Petroleum Corporation by 5.4% in the third quarter. Farmers & Merchants Investments Inc. now owns 165,945 shares of the oil and gas producer’s stock worth $10,655,000 after buying an additional 8,465 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Occidental Petroleum Corporation by 10.7% in the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 13,025 shares of the oil and gas producer’s stock worth $836,000 after buying an additional 1,263 shares during the period. Institutional investors own 80.53% of the company’s stock.
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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