Occidental Petroleum Co. (NYSE:OXY) – Capital One Financial upped their Q3 2018 EPS estimates for Occidental Petroleum in a report issued on Thursday, July 5th. Capital One Financial analyst R. Tullis now expects that the oil and gas producer will post earnings of $1.33 per share for the quarter, up from their previous forecast of $1.14. Capital One Financial currently has a “Overweight” rating on the stock.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.21. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. The company’s quarterly revenue was up 28.4% compared to the same quarter last year.
A number of other equities research analysts also recently commented on OXY. Zacks Investment Research downgraded Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Deutsche Bank raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Friday, March 23rd. JPMorgan Chase & Co. cut their target price on shares of Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, April 9th. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, April 9th. Finally, Piper Jaffray Companies raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $77.00 to $86.00 in a research note on Sunday, April 15th. Two 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 stock. The stock has a consensus rating of “Buy” and a consensus price target of $81.13.
Shares of NYSE:OXY opened at $84.25 on Friday. Occidental Petroleum has a one year low of $57.84 and a one year high of $87.67. The firm has a market cap of $64.47 billion, a PE ratio of 94.66, a P/E/G ratio of 2.91 and a beta of 0.61. 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 business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 11th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, June 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Occidental Petroleum by 23.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 34,897 shares of the oil and gas producer’s stock worth $2,571,000 after acquiring an additional 6,550 shares during the last quarter. Community Bank & Trust Waco Texas increased its stake in shares of Occidental Petroleum by 41.2% in the second quarter. Community Bank & Trust Waco Texas now owns 5,130 shares of the oil and gas producer’s stock worth $429,000 after acquiring an additional 1,497 shares during the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter worth $209,000. PNC Financial Services Group Inc. increased its stake in shares of Occidental Petroleum by 172.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,722,476 shares of the oil and gas producer’s stock worth $111,893,000 after acquiring an additional 1,089,145 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in shares of Occidental Petroleum by 6.1% in the fourth quarter. Advisor Group Inc. now owns 79,657 shares of the oil and gas producer’s stock worth $5,868,000 after acquiring an additional 4,596 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.
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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