Analysts forecast that Occidental Petroleum Co. (NYSE:OXY) will report $4.08 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Occidental Petroleum’s earnings. The highest sales estimate is $4.18 billion and the lowest is $3.99 billion. Occidental Petroleum posted sales of $3.60 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The firm is scheduled to issue its next earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Occidental Petroleum will report full-year sales of $16.56 billion for the current fiscal year, with estimates ranging from $15.83 billion to $17.28 billion. For the next financial year, analysts expect that the company will post sales of $17.85 billion per share, with estimates ranging from $16.99 billion to $18.71 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 earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.21. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 28.4% on a year-over-year basis.
A number of equities analysts have issued reports on OXY shares. Jefferies Financial Group upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and increased their price target for the stock from $87.00 to $98.00 in a report on Monday, June 11th. Mizuho assumed coverage on Occidental Petroleum in a research report on Friday, June 8th. They set a “buy” rating and a $102.00 target price for the company. Citigroup raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 5th. Capital One Financial raised Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 29th. Finally, Scotiabank raised Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $81.13.
OXY stock traded up $1.20 during trading on Friday, hitting $83.88. The company had a trading volume of 238,841 shares, compared to its average volume of 5,236,854. Occidental Petroleum has a one year low of $57.84 and a one year high of $87.67. The stock has a market capitalization of $62.30 billion, a PE ratio of 94.30, a PEG ratio of 2.86 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 11th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.67%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Occidental Petroleum by 0.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,331 shares of the oil and gas producer’s stock valued at $8,661,000 after buying an additional 716 shares in the last quarter. Maple Capital Management Inc. grew its position in shares of Occidental Petroleum by 1.1% in the 1st quarter. Maple Capital Management Inc. now owns 68,356 shares of the oil and gas producer’s stock worth $4,440,000 after buying an additional 730 shares during the last quarter. Wrapmanager Inc. grew its position in shares of Occidental Petroleum by 3.2% in the 1st quarter. Wrapmanager Inc. now owns 28,053 shares of the oil and gas producer’s stock worth $1,822,000 after buying an additional 857 shares during the last quarter. State Treasurer State of Michigan grew its position in shares of Occidental Petroleum by 0.4% in the 1st quarter. State Treasurer State of Michigan now owns 225,256 shares of the oil and gas producer’s stock worth $14,633,000 after buying an additional 900 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its position in shares of Occidental Petroleum by 6.1% in the 1st quarter. Hilltop Holdings Inc. now owns 15,933 shares of the oil and gas producer’s stock worth $1,035,000 after buying an additional 913 shares during the last quarter. Hedge funds and other institutional investors own 80.75% of the company’s stock.
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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