FY2024 EPS Forecast for Occidental Petroleum Cut by Analyst

Occidental Petroleum Co. (NYSE:OXY) – Equities research analysts at Capital One Financial reduced their FY2024 EPS estimates for Occidental Petroleum in a research note issued to investors on Thursday, January 16th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $3.26 for the year, down from their previous estimate of $3.27. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.32 per share.

Several other research analysts have also commented on OXY. Citigroup dropped their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Mizuho dropped their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. TD Cowen reduced their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target for the company. Finally, Barclays dropped their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Trading Down 2.7 %

Shares of Occidental Petroleum stock opened at $50.57 on Monday. Occidental Petroleum has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market capitalization of $47.46 billion, a P/E ratio of 13.17 and a beta of 1.57. The company has a fifty day moving average of $49.72 and a 200 day moving average of $53.32.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC increased its position in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new position in Occidental Petroleum during the third quarter valued at $50,000. Westside Investment Management Inc. raised its holdings in Occidental Petroleum by 224.0% during the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 1,075 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $87,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the acquisition, the insider now owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.48% of the company’s stock.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.74%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Occidental Petroleum Company Profile

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, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.