Occidental Petroleum Co. (NYSE:OXY) Expected to Announce Earnings of $1.07 Per Share

Equities analysts forecast that Occidental Petroleum Co. (NYSE:OXY) will announce earnings of $1.07 per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Occidental Petroleum’s earnings. The highest EPS estimate is $1.32 and the lowest is $0.82. Occidental Petroleum posted earnings of $1.10 per share in the same quarter last year, which would indicate a negative year over year growth rate of 2.7%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Occidental Petroleum will report full year earnings of $3.72 per share for the current year, with EPS estimates ranging from $3.20 to $3.94. For the next year, analysts expect that the business will report earnings of $3.39 per share, with EPS estimates ranging from $2.52 to $4.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS.

Several research firms have recently issued reports on OXY. ValuEngine lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Oppenheimer began coverage on Occidental Petroleum in a research note on Wednesday, March 27th. They issued a “market perform” rating for the company. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, April 16th. KeyCorp lowered their price objective on Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Atlantic Securities lowered Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price objective for the company. in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $74.48.

In related news, SVP Marcia E. Backus purchased 10,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $48.09 per share, for a total transaction of $480,900.00. Following the acquisition, the senior vice president now owns 101,248 shares of the company’s stock, valued at approximately $4,869,016.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Vicki A. Hollub purchased 37,460 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was bought at an average price of $48.15 per share, for a total transaction of $1,803,699.00. Following the completion of the acquisition, the insider now directly owns 248,326 shares in the company, valued at approximately $11,956,896.90. The disclosure for this purchase can be found here. Insiders bought a total of 80,660 shares of company stock worth $3,893,851 over the last quarter. Company insiders own 0.15% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in shares of Occidental Petroleum by 7.9% in the 4th quarter. Macquarie Group Ltd. now owns 10,146,677 shares of the oil and gas producer’s stock worth $622,804,000 after purchasing an additional 744,802 shares in the last quarter. Northern Trust Corp lifted its position in Occidental Petroleum by 2.6% during the 4th quarter. Northern Trust Corp now owns 9,890,631 shares of the oil and gas producer’s stock worth $607,087,000 after acquiring an additional 246,720 shares during the period. Geode Capital Management LLC lifted its position in Occidental Petroleum by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock worth $560,842,000 after acquiring an additional 316,507 shares during the period. Norges Bank acquired a new stake in Occidental Petroleum during the 4th quarter worth about $475,929,000. Finally, Dimensional Fund Advisors LP lifted its position in Occidental Petroleum by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,690,890 shares of the oil and gas producer’s stock worth $410,668,000 after acquiring an additional 331,307 shares during the period. 81.70% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:OXY traded up $0.30 during trading on Tuesday, hitting $49.60. The company had a trading volume of 6,016,336 shares, compared to its average volume of 7,525,887. The company has a market cap of $36.57 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 2.65 and a beta of 0.83. Occidental Petroleum has a one year low of $47.00 and a one year high of $86.60. The stock has a fifty day moving average price of $50.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.23.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.29%. Occidental Petroleum’s dividend payout ratio is presently 62.28%.

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 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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