Occidental Petroleum Co. Expected to Post FY2018 Earnings of $5.15 Per Share (OXY)

Occidental Petroleum Co. (NYSE:OXY) – Analysts at Capital One Financial reduced their FY2018 earnings estimates for Occidental Petroleum in a research note issued to investors on Tuesday, January 8th. Capital One Financial analyst R. Tullis now expects that the oil and gas producer will earn $5.15 per share for the year, down from their prior estimate of $5.21. Capital One Financial currently has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for Occidental Petroleum’s Q4 2018 earnings at $1.35 EPS, Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.57 EPS, FY2019 earnings at $2.12 EPS and FY2020 earnings at $1.93 EPS.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The company had revenue of $6.18 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. Occidental Petroleum’s revenue for the quarter was up 98.9% on a year-over-year basis.



Several other equities research analysts also recently issued reports on OXY. Zacks Investment Research downgraded Occidental Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday. ValuEngine downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. BMO Capital Markets reiterated a “neutral” rating on shares of Occidental Petroleum in a report on Wednesday, November 14th. Argus reiterated a “buy” rating and set a $97.00 price target on shares of Occidental Petroleum in a report on Monday, November 26th. Finally, Cowen started coverage on Occidental Petroleum in a research note on Thursday, November 29th. They issued a “market perform” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $87.16.

Shares of NYSE:OXY opened at $66.22 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.47. Occidental Petroleum has a twelve month low of $56.83 and a twelve month high of $87.67. The company has a market cap of $49.67 billion, a PE ratio of 74.40, a PEG ratio of 2.37 and a beta of 0.88.

Several hedge funds have recently bought and sold shares of OXY. Lenox Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth about $37,000. Moody National Bank Trust Division lifted its holdings in Occidental Petroleum by 67.9% during the 4th quarter. Moody National Bank Trust Division now owns 1,301 shares of the oil and gas producer’s stock worth $80,000 after purchasing an additional 526 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Occidental Petroleum by 170.8% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,327 shares of the oil and gas producer’s stock worth $109,000 after purchasing an additional 837 shares in the last quarter. Westbourne Investment Advisors Inc. purchased a new stake in Occidental Petroleum during the 3rd quarter worth about $138,000. Finally, GeoSphere Capital Management LLC purchased a new stake in Occidental Petroleum during the 2nd quarter worth about $151,000. Institutional investors own 81.36% of the company’s stock.

The company also recently declared 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 4.71%. Occidental Petroleum’s payout ratio is 350.56%.

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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