Equities research analysts forecast that Occidental Petroleum Co. (NYSE:OXY) will post $5.06 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Occidental Petroleum’s earnings. The highest sales estimate is $6.91 billion and the lowest is $4.28 billion. Occidental Petroleum posted sales of $6.18 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.1%. The company is scheduled to issue its next quarterly earnings results on Monday, November 4th.
On average, analysts expect that Occidental Petroleum will report full-year sales of $20.79 billion for the current year, with estimates ranging from $19.35 billion to $22.05 billion. For the next year, analysts expect that the company will post sales of $28.64 billion, with estimates ranging from $24.89 billion to $37.68 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business posted $1.10 EPS. Occidental Petroleum’s quarterly revenue was up 8.4% compared to the same quarter last year.
Occidental Petroleum stock traded up $0.16 during mid-day trading on Tuesday, reaching $45.56. The company’s stock had a trading volume of 83,767 shares, compared to its average volume of 8,422,083. Occidental Petroleum has a 12-month low of $41.83 and a 12-month high of $83.35. The company has a market capitalization of $34.75 billion, a P/E ratio of 9.10, a PEG ratio of 3.16 and a beta of 0.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.00 and a current ratio of 1.20. The firm’s fifty day moving average price is $46.34 and its two-hundred day moving average price is $54.83.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.79 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date of this dividend is Monday, September 9th. Occidental Petroleum’s payout ratio is 63.07%.
In other news, Director Margaret M. Foran purchased 1,000 shares of Occidental Petroleum stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $43.15 per share, for a total transaction of $43,150.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Oscar K. Brown purchased 5,000 shares of Occidental Petroleum stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $42.62 per share, with a total value of $213,100.00. Following the completion of the transaction, the insider now directly owns 114,519 shares in the company, valued at $4,880,799.78. The disclosure for this purchase can be found here. Insiders have bought a total of 33,500 shares of company stock valued at $1,565,375 over the last 90 days. Company insiders own 0.15% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Occidental Petroleum by 39.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 33,365,328 shares of the oil and gas producer’s stock worth $1,677,609,000 after acquiring an additional 9,386,180 shares during the last quarter. Geode Capital Management LLC lifted its stake in Occidental Petroleum by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock worth $560,842,000 after purchasing an additional 316,507 shares during the last quarter. Morgan Stanley lifted its stake in Occidental Petroleum by 0.4% in the second quarter. Morgan Stanley now owns 8,002,841 shares of the oil and gas producer’s stock worth $402,383,000 after purchasing an additional 28,283 shares during the last quarter. Charles Schwab Investment Advisory Inc. lifted its stake in Occidental Petroleum by 86.7% in the second quarter. Charles Schwab Investment Advisory Inc. now owns 5,839,718 shares of the oil and gas producer’s stock worth $293,621,000 after purchasing an additional 2,712,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Occidental Petroleum by 12.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,215,304 shares of the oil and gas producer’s stock worth $211,946,000 after purchasing an additional 466,208 shares during the last quarter. Hedge funds and other institutional investors own 85.43% 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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