Analysts Anticipate Occidental Petroleum Co. (OXY) Will Post Earnings of $1.51 Per Share

Equities research analysts expect Occidental Petroleum Co. (NYSE:OXY) to post $1.51 earnings per share for the current quarter, Zacks reports. Six analysts have made estimates for Occidental Petroleum’s earnings, with estimates ranging from $1.28 to $1.60. Occidental Petroleum posted earnings per share of $0.18 in the same quarter last year, which would indicate a positive year over year growth rate of 738.9%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, November 5th.

On average, analysts expect that Occidental Petroleum will report full year earnings of $5.11 per share for the current year, with EPS estimates ranging from $4.49 to $5.58. For the next financial year, analysts forecast that the company will post earnings of $6.22 per share, with EPS estimates ranging from $4.10 to $8.34. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.11). Occidental Petroleum had a net margin of 15.36% and a return on equity of 9.68%. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis.



Several analysts recently issued reports on the company. Raymond James upgraded Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group lowered their price target on Occidental Petroleum to $92.00 and set a “neutral” rating for the company in a report on Tuesday, October 16th. Morgan Stanley set a $101.00 price target on Occidental Petroleum and gave the company a “buy” rating in a report on Friday, October 12th. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Wednesday, October 10th. Finally, Piper Jaffray Companies assumed coverage on Occidental Petroleum in a report on Friday, September 28th. They issued an “overweight” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.06.

NYSE OXY traded down $0.74 during trading hours on Friday, hitting $67.91. The company had a trading volume of 6,326,458 shares, compared to its average volume of 5,286,773. Occidental Petroleum has a fifty-two week low of $62.47 and a fifty-two week high of $87.67. The company has a market cap of $51.93 billion, a P/E ratio of 76.30, a P/E/G ratio of 1.85 and a beta of 0.58. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, December 7th. This represents a $3.12 annualized dividend and a dividend yield of 4.59%. Occidental Petroleum’s dividend payout ratio is presently 350.56%.

In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the stock in a transaction dated Monday, August 13th. The stock was bought at an average cost of $78.55 per share, for a total transaction of $392,750.00. Following the completion of the purchase, the director now directly owns 77,963 shares of the company’s stock, valued at $6,123,993.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Standard Life Aberdeen plc grew its stake in Occidental Petroleum by 1,541.0% in the second quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock worth $634,716,000 after purchasing an additional 7,122,373 shares in the last quarter. Adams Asset Advisors LLC grew its stake in Occidental Petroleum by 7.9% in the second quarter. Adams Asset Advisors LLC now owns 6,789,866 shares of the oil and gas producer’s stock worth $568,175,000 after purchasing an additional 500,000 shares in the last quarter. FMR LLC grew its stake in Occidental Petroleum by 232.5% in the second quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock worth $506,194,000 after purchasing an additional 4,230,065 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Occidental Petroleum by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,735,322 shares of the oil and gas producer’s stock worth $479,928,000 after purchasing an additional 490,346 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. acquired a new position in Occidental Petroleum in the second quarter worth about $241,052,000. Institutional investors own 80.52% of the company’s stock.

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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Earnings History and Estimates for Occidental Petroleum (NYSE:OXY)

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