Analysts expect Occidental Petroleum Co. (NYSE:OXY) to report earnings per share of $1.44 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Occidental Petroleum’s earnings, with estimates ranging from $1.28 to $1.62. Occidental Petroleum reported earnings per share of $0.41 during the same quarter last year, which would suggest a positive year over year growth rate of 251.2%. The company is expected to report its next earnings results on Tuesday, February 12th.
On average, analysts expect that Occidental Petroleum will report full-year earnings of $5.21 per share for the current financial year, with EPS estimates ranging from $5.08 to $5.40. For the next year, analysts expect that the company will post earnings of $5.69 per share, with EPS estimates ranging from $4.38 to $7.61. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Occidental Petroleum.
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, topping the consensus estimate of $1.51 by $0.26. The firm had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. Occidental Petroleum’s revenue was up 98.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share.
Several equities analysts recently issued reports on OXY shares. JPMorgan Chase & Co. reduced their price objective on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, August 10th. National Alliance Securities raised Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Bank of America lifted their price objective on Occidental Petroleum from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, August 17th. Edward Jones raised Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Finally, Piper Jaffray Companies started coverage on Occidental Petroleum in a report on Friday, September 28th. They set an “overweight” rating for the company. Nine investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum currently has a consensus rating of “Buy” and a consensus target price of $88.00.
OXY stock traded down $0.98 during midday trading on Friday, hitting $66.54. 5,494,595 shares of the stock were exchanged, compared to its average volume of 4,970,794. The stock has a market cap of $52.60 billion, a PE ratio of 74.76, a P/E/G ratio of 2.22 and a beta of 0.82. Occidental Petroleum has a fifty-two week low of $62.47 and a fifty-two week high of $87.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.21 and a current ratio of 1.33.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.69%. The ex-dividend date is Friday, December 7th. Occidental Petroleum’s payout ratio is 350.56%.
A number of institutional investors have recently added to or reduced their stakes in OXY. Vanguard Group Inc. grew its position in shares of Occidental Petroleum by 2.2% in the third quarter. Vanguard Group Inc. now owns 62,477,713 shares of the oil and gas producer’s stock valued at $5,133,793,000 after purchasing an additional 1,370,841 shares during the period. BlackRock Inc. grew its position in shares of Occidental Petroleum by 3.4% in the third quarter. BlackRock Inc. now owns 52,574,756 shares of the oil and gas producer’s stock valued at $4,320,067,000 after purchasing an additional 1,732,733 shares during the period. Capital World Investors grew its position in shares of Occidental Petroleum by 9.6% in the third quarter. Capital World Investors now owns 23,423,802 shares of the oil and gas producer’s stock valued at $1,924,734,000 after purchasing an additional 2,056,863 shares during the period. Dodge & Cox grew its position in shares of Occidental Petroleum by 58.7% in the third quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock valued at $812,488,000 after purchasing an additional 3,656,670 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of Occidental Petroleum by 3.0% in the third quarter. Macquarie Group Ltd. now owns 9,401,875 shares of the oil and gas producer’s stock valued at $772,552,000 after purchasing an additional 276,026 shares during the period. 81.63% of the stock is owned by institutional investors.
Occidental Petroleum Company Profile
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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