Equities analysts expect Occidental Petroleum Co. (NYSE:OXY) to post earnings per share of $0.66 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Occidental Petroleum’s earnings. The highest EPS estimate is $0.87 and the lowest is $0.54. Occidental Petroleum reported earnings per share of $0.15 in the same quarter last year, which would suggest a positive year-over-year growth rate of 340%. The company is expected to announce its next earnings results on Thursday, May 3rd.
On average, analysts expect that Occidental Petroleum will report full-year earnings of $2.59 per share for the current year, with EPS estimates ranging from $2.02 to $3.26. For the next year, analysts forecast that the company will report earnings of $2.67 per share, with EPS estimates ranging from $1.76 to $3.88. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data 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 business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned ($0.13) earnings per share.
A number of analysts have recently issued reports on OXY shares. Jefferies Group lifted their price target on Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Mizuho reaffirmed a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a research note on Friday, November 3rd. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Barclays lifted their price target on Occidental Petroleum from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. Finally, Scotiabank reaffirmed a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum presently has an average rating of “Hold” and an average target price of $70.60.
Shares of Occidental Petroleum (NYSE OXY) opened at $68.32 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 0.95. The company has a market capitalization of $52,281.54, a P/E ratio of 39.95, a PEG ratio of 4.05 and a beta of 0.53. Occidental Petroleum has a 12-month low of $57.20 and a 12-month high of $78.09.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 180.12%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Occidental Petroleum by 21.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock worth $1,418,851,000 after buying an additional 3,366,402 shares during the last quarter. Millennium Management LLC boosted its stake in Occidental Petroleum by 2,791.8% during the fourth quarter. Millennium Management LLC now owns 1,989,031 shares of the oil and gas producer’s stock worth $146,512,000 after buying an additional 1,920,249 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in Occidental Petroleum by 22.0% during the third quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock worth $520,341,000 after buying an additional 1,461,761 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Occidental Petroleum by 275.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock worth $146,288,000 after buying an additional 1,456,337 shares during the last quarter. Finally, Tide Point Capital Management LP acquired a new position in Occidental Petroleum during the fourth quarter worth $82,756,000. 79.86% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: This piece was published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.thelincolnianonline.com/2018/02/25/occidental-petroleum-co-oxy-expected-to-announce-earnings-of-0-66-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.