Occidental Petroleum Co. (NYSE:OXY) – Analysts at Capital One Financial issued their Q1 2019 earnings estimates for shares of Occidental Petroleum in a research report issued on Tuesday, November 6th. Capital One Financial analyst R. Tullis expects that the oil and gas producer will earn $1.07 per share for the quarter. Capital One Financial also issued estimates for Occidental Petroleum’s Q2 2019 earnings at $1.00 EPS and Q4 2019 earnings at $0.97 EPS.
A number of other equities research analysts have also commented on OXY. Piper Jaffray Companies began coverage on Occidental Petroleum in a research report on Friday, September 28th. They issued an “overweight” rating on the stock. Mitsubishi UFJ Financial Group dropped their target price on Occidental Petroleum to $92.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 16th. Raymond James upgraded Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research report on Monday, October 22nd. They noted that the move was a valuation call. ValuEngine lowered Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, Edward Jones upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $84.00.
Shares of OXY stock opened at $73.55 on Thursday. Occidental Petroleum has a fifty-two week low of $62.47 and a fifty-two week high of $87.67. The stock has a market cap of $55.66 billion, a PE ratio of 82.64, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.19 and a current ratio of 1.33.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The business had revenue of $6.18 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company’s revenue was up 98.9% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Friday, December 7th. Occidental Petroleum’s payout ratio is presently 350.56%.
In related news, Director William R. Klesse purchased 5,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was bought at an average cost of $78.55 per share, with a total value of $392,750.00. Following the completion of the acquisition, the director now owns 77,963 shares of the company’s stock, valued at approximately $6,123,993.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Sawtooth Solutions LLC lifted its holdings in Occidental Petroleum by 2.0% in the second quarter. Sawtooth Solutions LLC now owns 34,912 shares of the oil and gas producer’s stock valued at $2,922,000 after acquiring an additional 679 shares during the period. Segment Wealth Management LLC raised its stake in shares of Occidental Petroleum by 20.5% during the 3rd quarter. Segment Wealth Management LLC now owns 4,052 shares of the oil and gas producer’s stock worth $333,000 after buying an additional 689 shares during the period. Wetherby Asset Management Inc. raised its stake in shares of Occidental Petroleum by 7.7% during the 2nd quarter. Wetherby Asset Management Inc. now owns 9,789 shares of the oil and gas producer’s stock worth $820,000 after buying an additional 703 shares during the period. TCW Group Inc. raised its stake in shares of Occidental Petroleum by 3.4% during the 2nd quarter. TCW Group Inc. now owns 21,697 shares of the oil and gas producer’s stock worth $1,815,000 after buying an additional 705 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in shares of Occidental Petroleum by 4.7% during the 3rd quarter. HighPoint Advisor Group LLC now owns 16,151 shares of the oil and gas producer’s stock worth $1,168,000 after buying an additional 721 shares during the period. 80.95% of the stock is owned by institutional investors.
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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