Zacks: Analysts Expect Occidental Petroleum Co. (NYSE:OXY) Will Post Quarterly Sales of $6.30 Billion

Equities research analysts forecast that Occidental Petroleum Co. (NYSE:OXY) will announce sales of $6.30 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Occidental Petroleum’s earnings. The highest sales estimate is $6.56 billion and the lowest is $6.03 billion. Occidental Petroleum reported sales of $4.80 billion in the same quarter last year, which suggests a positive year over year growth rate of 31.3%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 11th.

On average, analysts expect that Occidental Petroleum will report full year sales of $20.69 billion for the current fiscal year, with estimates ranging from $20.52 billion to $20.99 billion. For the next financial year, analysts anticipate that the company will report sales of $25.29 billion, with estimates ranging from $23.85 billion to $26.01 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last issued 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). The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.59 billion. Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. Occidental Petroleum’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 EPS.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a research report on Tuesday, October 15th. Morgan Stanley cut their price objective on shares of Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Friday, October 4th. SunTrust Banks began coverage on shares of Occidental Petroleum in a research report on Monday, September 23rd. They set a “hold” rating and a $48.00 price objective on the stock. Susquehanna Bancshares began coverage on shares of Occidental Petroleum in a research report on Thursday, September 5th. They issued a “positive” rating and a $55.00 price target on the stock. Finally, Barclays began coverage on shares of Occidental Petroleum in a research report on Monday, August 19th. They issued an “equal weight” rating and a $61.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $58.03.

In related news, Director Bob Shearer acquired 5,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were acquired at an average price of $38.96 per share, for a total transaction of $194,800.00. Following the completion of the purchase, the director now owns 24,218 shares in the company, valued at approximately $943,533.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack B. Moore acquired 12,900 shares of the stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $38.61 per share, for a total transaction of $498,069.00. Following the purchase, the director now owns 129,203 shares of the company’s stock, valued at approximately $4,988,527.83. The disclosure for this purchase can be found here. In the last three months, insiders bought 40,900 shares of company stock worth $1,620,829. Insiders own 0.15% of the company’s stock.

Several institutional investors have recently made changes to their positions in OXY. Janney Montgomery Scott LLC grew its stake in shares of Occidental Petroleum by 4.3% in the second quarter. Janney Montgomery Scott LLC now owns 94,723 shares of the oil and gas producer’s stock worth $4,763,000 after acquiring an additional 3,943 shares during the last quarter. Dupont Capital Management Corp boosted its stake in Occidental Petroleum by 121.2% during the second quarter. Dupont Capital Management Corp now owns 52,820 shares of the oil and gas producer’s stock worth $2,656,000 after buying an additional 28,939 shares in the last quarter. KBC Group NV boosted its stake in Occidental Petroleum by 10.4% during the second quarter. KBC Group NV now owns 218,999 shares of the oil and gas producer’s stock worth $11,011,000 after buying an additional 20,680 shares in the last quarter. AGF Investments LLC boosted its stake in Occidental Petroleum by 74.5% during the second quarter. AGF Investments LLC now owns 6,618 shares of the oil and gas producer’s stock worth $333,000 after buying an additional 2,826 shares in the last quarter. Finally, Highstreet Asset Management Inc. boosted its stake in Occidental Petroleum by 51.5% during the second quarter. Highstreet Asset Management Inc. now owns 9,734 shares of the oil and gas producer’s stock worth $489,000 after buying an additional 3,311 shares in the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.

OXY traded down $0.54 during midday trading on Wednesday, hitting $37.71. 9,772,414 shares of the company’s stock traded hands, compared to its average volume of 10,180,099. The company has a market cap of $33.54 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 4.16 and a beta of 0.85. The stock’s fifty day simple moving average is $39.66 and its 200-day simple moving average is $45.20. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.33 and a quick ratio of 1.23. Occidental Petroleum has a one year low of $37.25 and a one year high of $68.83.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.38%. The ex-dividend date of this dividend is Monday, December 9th. Occidental Petroleum’s dividend payout ratio is 63.07%.

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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