Wall Street analysts predict that Occidental Petroleum Co. (NYSE:OXY) will report sales of $3.62 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Occidental Petroleum’s earnings, with the lowest sales estimate coming in at $3.48 billion and the highest estimate coming in at $3.83 billion. Occidental Petroleum posted sales of $2.98 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.5%. The business is expected to announce its next quarterly earnings report on Thursday, May 3rd.
On average, analysts expect that Occidental Petroleum will report full year sales of $3.62 billion for the current fiscal year, with estimates ranging from $14.43 billion to $15.96 billion. For the next fiscal year, analysts anticipate that the company will post sales of $15.82 billion per share, with estimates ranging from $15.23 billion to $16.29 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.41. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. During the same period last year, the business posted ($0.13) earnings per share.
A number of large investors have recently added to or reduced their stakes in the business. Green Square Capital LLC boosted its holdings in shares of Occidental Petroleum by 208.2% in the fourth quarter. Green Square Capital LLC now owns 12,196 shares of the oil and gas producer’s stock worth $908,000 after acquiring an additional 8,239 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Occidental Petroleum by 23.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 34,897 shares of the oil and gas producer’s stock worth $2,571,000 after acquiring an additional 6,550 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in shares of Occidental Petroleum by 14.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 76,642 shares of the oil and gas producer’s stock worth $5,645,000 after acquiring an additional 9,916 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Occidental Petroleum by 24,838.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 4,489 shares of the oil and gas producer’s stock worth $255,000 after acquiring an additional 4,471 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Occidental Petroleum by 5.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 317,391 shares of the oil and gas producer’s stock worth $23,377,000 after acquiring an additional 15,154 shares during the period. 83.00% of the stock is owned by institutional investors and hedge funds.
Shares of Occidental Petroleum (NYSE OXY) opened at $63.89 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $48,890.00, a P/E ratio of 37.80, a P/E/G ratio of 3.76 and a beta of 0.64. Occidental Petroleum has a 52-week low of $57.20 and a 52-week high of $78.09.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio is currently 182.25%.
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About Occidental Petroleum
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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