Occidental Petroleum Co. (NYSE:OXY) – Stock analysts at SunTrust Banks upped their Q1 2021 earnings per share estimates for Occidental Petroleum in a report issued on Tuesday, January 21st. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will earn $0.37 per share for the quarter, up from their previous estimate of $0.34. SunTrust Banks also issued estimates for Occidental Petroleum’s Q2 2021 earnings at $0.39 EPS.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.30). Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same period last year, the company posted $1.77 earnings per share. Occidental Petroleum’s revenue for the quarter was down 4.9% on a year-over-year basis.
Other equities analysts have also issued reports about the company. UBS Group increased their price objective on Occidental Petroleum from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley raised Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $51.00 to $59.00 in a report on Monday, January 13th. ValuEngine raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Mizuho raised Occidental Petroleum from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $58.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Co increased their price objective on Occidental Petroleum from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $57.22.
Shares of NYSE OXY opened at $42.22 on Thursday. The stock has a fifty day simple moving average of $41.80 and a two-hundred day simple moving average of $43.65. Occidental Petroleum has a 1-year low of $37.25 and a 1-year high of $68.83. The firm has a market cap of $37.72 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 5.36 and a beta of 0.88. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.16 annualized dividend and a dividend yield of 7.48%. Occidental Petroleum’s dividend payout ratio is currently 63.07%.
In other Occidental Petroleum news, Director Jack B. Moore acquired 12,900 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average price of $38.61 per share, for a total transaction of $498,069.00. Following the completion of the transaction, the director now owns 129,203 shares of the company’s stock, valued at approximately $4,988,527.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bob Shearer acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was acquired at an average price of $38.96 per share, for a total transaction of $194,800.00. Following the transaction, the director now directly owns 24,218 shares of the company’s stock, valued at approximately $943,533.28. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 35,900 shares of company stock worth $1,393,129. Company insiders own 0.15% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Griffin Asset Management Inc. raised its position in shares of Occidental Petroleum by 2.7% in the second quarter. Griffin Asset Management Inc. now owns 8,440 shares of the oil and gas producer’s stock worth $424,000 after buying an additional 225 shares in the last quarter. Liberty Wealth Management LLC raised its position in Occidental Petroleum by 36.4% during the third quarter. Liberty Wealth Management LLC now owns 907 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 242 shares in the last quarter. Ipswich Investment Management Co. Inc. raised its position in Occidental Petroleum by 5.0% during the third quarter. Ipswich Investment Management Co. Inc. now owns 5,380 shares of the oil and gas producer’s stock valued at $239,000 after purchasing an additional 255 shares in the last quarter. Truewealth LLC raised its position in Occidental Petroleum by 52.4% during the third quarter. Truewealth LLC now owns 785 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 270 shares in the last quarter. Finally, Strategic Investment Advisors MI raised its position in Occidental Petroleum by 6.2% during the third quarter. Strategic Investment Advisors MI now owns 4,673 shares of the oil and gas producer’s stock valued at $208,000 after purchasing an additional 274 shares in the last quarter. Institutional investors own 78.54% 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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