Occidental Petroleum Co. (NYSE:OXY) Expected to Announce Earnings of -$0.33 Per Share

Equities analysts expect Occidental Petroleum Co. (NYSE:OXY) to report earnings of ($0.33) per share for the current quarter, according to Zacks. Four analysts have made estimates for Occidental Petroleum’s earnings. The lowest EPS estimate is ($0.52) and the highest is ($0.01). Occidental Petroleum reported earnings of ($0.52) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 36.5%. The firm is scheduled to announce its next quarterly earnings results on Monday, February 22nd.

On average, analysts expect that Occidental Petroleum will report full year earnings of ($1.26) per share for the current year, with EPS estimates ranging from ($1.73) to $0.03. For the next year, analysts expect that the business will post earnings of ($0.78) per share, with EPS estimates ranging from ($1.53) to ($0.23). Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Sunday, February 21st. The oil and gas producer reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.19). Occidental Petroleum had a negative return on equity of 15.55% and a negative net margin of 76.17%. During the same period in the prior year, the firm posted ($0.30) EPS.

OXY has been the topic of several recent research reports. Zacks Investment Research upgraded Occidental Petroleum from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research report on Tuesday, February 9th. Bank of America boosted their price objective on shares of Occidental Petroleum from $29.00 to $31.00 and gave the company a “buy” rating in a report on Monday, February 8th. JPMorgan Chase & Co. lowered shares of Occidental Petroleum from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $12.50 to $13.00 in a research report on Wednesday, November 11th. Susquehanna Bancshares upgraded Occidental Petroleum from a “neutral” rating to a “positive” rating and set a $18.00 price target for the company in a research note on Friday, November 20th. Finally, Societe Generale initiated coverage on Occidental Petroleum in a research note on Tuesday, January 19th. They set a “hold” rating and a $24.30 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.59.

A number of large investors have recently modified their holdings of the stock. Inscription Capital LLC boosted its position in Occidental Petroleum by 3.3% in the fourth quarter. Inscription Capital LLC now owns 15,500 shares of the oil and gas producer’s stock valued at $268,000 after buying an additional 500 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Occidental Petroleum by 3.1% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 16,480 shares of the oil and gas producer’s stock valued at $285,000 after acquiring an additional 502 shares during the last quarter. Grace Capital lifted its stake in shares of Occidental Petroleum by 58.5% in the 4th quarter. Grace Capital now owns 1,585 shares of the oil and gas producer’s stock valued at $166,000 after acquiring an additional 585 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Occidental Petroleum by 0.3% during the 4th quarter. ProShare Advisors LLC now owns 203,350 shares of the oil and gas producer’s stock valued at $3,520,000 after acquiring an additional 663 shares in the last quarter. Finally, GWM Advisors LLC grew its position in Occidental Petroleum by 6.0% during the 4th quarter. GWM Advisors LLC now owns 13,018 shares of the oil and gas producer’s stock worth $225,000 after acquiring an additional 740 shares during the last quarter. 66.64% of the stock is owned by institutional investors and hedge funds.

OXY traded down $0.32 during trading on Tuesday, hitting $26.15. The stock had a trading volume of 1,364,073 shares, compared to its average volume of 20,473,420. The company has a 50 day moving average price of $22.44 and a 200-day moving average price of $15.63. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of -1.45 and a beta of 2.35. Occidental Petroleum has a one year low of $8.52 and a one year high of $40.55. The company has a debt-to-equity ratio of 3.56, a current ratio of 1.02 and a quick ratio of 0.86.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 10th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Tuesday, March 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 2.76%.

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, and Latin America. The company operates through three segments: Oil and Gas, Chemical, and Marketing and Midstream.

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Earnings History and Estimates for Occidental Petroleum (NYSE:OXY)

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