Occidental Petroleum Co. (NYSE:OXY) – Analysts at KeyCorp lifted their Q1 2021 EPS estimates for shares of Occidental Petroleum in a report released on Tuesday, April 20th. KeyCorp analyst L. Mariani now expects that the oil and gas producer will post earnings per share of ($0.21) for the quarter, up from their prior estimate of ($0.30). KeyCorp also issued estimates for Occidental Petroleum’s Q2 2021 earnings at ($0.14) EPS, FY2021 earnings at ($0.28) EPS and FY2022 earnings at $1.05 EPS.
A number of other equities analysts have also weighed in on OXY. Wolfe Research reissued an “underperform” rating and set a $20.00 price objective on shares of Occidental Petroleum in a research note on Monday. Mizuho raised Occidental Petroleum from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.00 to $26.00 in a research note on Tuesday, January 12th. Truist Financial upped their price target on Occidental Petroleum from $11.00 to $25.00 in a research note on Thursday, January 21st. Morgan Stanley upped their price target on Occidental Petroleum from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $28.00 price target (up previously from $26.00) on shares of Occidental Petroleum in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $23.70.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Sunday, February 21st. The oil and gas producer reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.19). The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $4.47 billion. Occidental Petroleum had a negative return on equity of 15.55% and a negative net margin of 76.17%. During the same period last year, the firm posted ($0.30) EPS.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 10th were issued a dividend of $0.01 per share. The ex-dividend date was Tuesday, March 9th. This represents a $0.04 annualized dividend and a yield of 0.17%. Occidental Petroleum’s dividend payout ratio (DPR) is 2.76%.
In other news, major shareholder Carl C. Icahn sold 2,600,000 shares of the stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $26.88, for a total value of $69,888,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Carl C. Icahn sold 3,500,000 shares of the stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $25.60, for a total value of $89,600,000.00. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gofen & Glossberg LLC IL purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at about $2,332,000. Aviva PLC grew its stake in Occidental Petroleum by 6.0% during the 4th quarter. Aviva PLC now owns 174,940 shares of the oil and gas producer’s stock worth $3,028,000 after buying an additional 9,948 shares during the last quarter. Kovack Advisors Inc. grew its stake in Occidental Petroleum by 10.2% during the 4th quarter. Kovack Advisors Inc. now owns 12,475 shares of the oil and gas producer’s stock worth $216,000 after buying an additional 1,150 shares during the last quarter. DNB Asset Management AS grew its stake in Occidental Petroleum by 8.7% during the 4th quarter. DNB Asset Management AS now owns 107,025 shares of the oil and gas producer’s stock worth $1,853,000 after buying an additional 8,576 shares during the last quarter. Finally, Perpetual Investment Management Limited purchased a new position in Occidental Petroleum during the 4th quarter worth approximately $181,000. Institutional investors and hedge funds own 66.64% 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, the Middle East, Africa, and Latin America. The company operates through three segments: Oil and Gas, Chemical, and Marketing and Midstream.
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