Wall Street brokerages expect that Occidental Petroleum (NYSE:OXY) will announce earnings per share of $0.64 for the current quarter, Zacks reports. Four analysts have issued estimates for Occidental Petroleum’s earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at $0.54. Occidental Petroleum posted earnings per share of $0.15 during the same quarter last year, which indicates a positive year-over-year growth rate of 326.7%. The company is expected to announce its next quarterly earnings report after the market closes on Tuesday, May 8th.
According to Zacks, analysts expect that Occidental Petroleum will report full-year earnings of $2.67 per share for the current year, with EPS estimates ranging from $2.24 to $3.12. For the next fiscal year, analysts anticipate that the company will post earnings of $2.75 per share, with EPS estimates ranging from $1.76 to $3.88. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The company had revenue of $3.59 billion for 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 equities research analysts recently weighed in on OXY shares. ValuEngine raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Monday, April 9th. BMO Capital Markets reissued a “hold” rating and set a $75.00 target price on shares of Occidental Petroleum in a research report on Tuesday, February 27th. JPMorgan Chase decreased their target price on Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, April 9th. UBS started coverage on Occidental Petroleum in a research report on Wednesday, March 7th. They set a “neutral” rating and a $71.00 target price on the stock. Finally, Piper Jaffray raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $77.00 to $86.00 in a research report on Sunday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus 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. Goodman Financial Corp bought a new position in Occidental Petroleum during the fourth quarter worth about $116,000. Trustcore Financial Services LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $153,000. Field & Main Bank bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $166,000. Optimum Investment Advisors bought a new position in shares of Occidental Petroleum in the third quarter valued at approximately $200,000. Finally, Cetera Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $201,000. Hedge funds and other institutional investors own 82.69% of the company’s stock.
Shares of NYSE:OXY opened at $74.91 on Friday. The stock has a market capitalization of $56,337.89, a PE ratio of 84.17, a price-to-earnings-growth ratio of 4.24 and a beta of 0.65. Occidental Petroleum has a 52-week low of $57.20 and a 52-week high of $78.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.12.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Friday, March 9th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Thursday, March 8th. Occidental Petroleum’s dividend payout ratio is 346.07%.
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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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