Equities analysts predict that Occidental Petroleum (NYSE:OXY) will report $0.65 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Occidental Petroleum’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.77. Occidental Petroleum reported earnings per share of $0.15 during the same quarter last year, which suggests a positive year-over-year growth rate of 333.3%. The business is scheduled to announce its next earnings results after the market closes on Tuesday, May 8th.
On average, analysts expect that Occidental Petroleum will report full-year earnings of $2.77 per share for the current fiscal year, with EPS estimates ranging from $2.24 to $3.63. For the next year, analysts forecast that the firm will report earnings of $2.82 per share, with EPS estimates ranging from $1.76 to $3.88. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. During the same period in the prior year, the firm posted ($0.13) earnings per share.
Several brokerages have recently commented on OXY. Morgan Stanley upped their price objective on shares of Occidental Petroleum from $66.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup raised shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective for the company in a research note on Monday, January 22nd. ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Monday, April 9th. Piper Jaffray upgraded shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $77.00 to $86.00 in a research report on Sunday. Finally, Macquarie initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, January 17th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. Occidental Petroleum currently has an average rating of “Hold” and an average price target of $74.06.
A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Occidental Petroleum by 21.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock valued at $1,418,851,000 after purchasing an additional 3,366,402 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Occidental Petroleum by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 13,863,294 shares of the oil and gas producer’s stock valued at $1,021,169,000 after purchasing an additional 345,382 shares during the period. Franklin Resources Inc. lifted its stake in shares of Occidental Petroleum by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 13,764,887 shares of the oil and gas producer’s stock valued at $1,013,921,000 after purchasing an additional 41,765 shares during the period. Geode Capital Management LLC lifted its stake in shares of Occidental Petroleum by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 7,755,139 shares of the oil and gas producer’s stock valued at $569,998,000 after purchasing an additional 200,350 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of Occidental Petroleum by 8.2% in the 4th quarter. Raymond James & Associates now owns 3,342,677 shares of the oil and gas producer’s stock valued at $246,221,000 after purchasing an additional 252,204 shares during the period. Institutional investors and hedge funds own 82.69% of the company’s stock.
Shares of NYSE:OXY traded down $0.05 during midday trading on Friday, hitting $75.87. 2,468,472 shares of the stock traded hands, compared to its average volume of 5,179,435. The company has a market cap of $57,554.48, a price-to-earnings ratio of 85.37, a price-to-earnings-growth ratio of 4.18 and a beta of 0.65. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. Occidental Petroleum has a one year low of $57.20 and a one year high of $78.09.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Friday, March 9th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Thursday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.
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About Occidental Petroleum
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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