-$0.28 EPS Expected for Occidental Petroleum Co. (NYSE:OXY) This Quarter

Brokerages expect Occidental Petroleum Co. (NYSE:OXY) to announce earnings per share (EPS) of ($0.28) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Occidental Petroleum’s earnings, with estimates ranging from ($0.93) to ($0.03). Occidental Petroleum posted earnings of ($1.76) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 84.1%. The firm is expected to report its next quarterly earnings report on Monday, August 9th.

On average, analysts expect that Occidental Petroleum will report full year earnings of ($0.94) per share for the current financial year, with EPS estimates ranging from ($2.85) to ($0.02). For the next fiscal year, analysts anticipate that the company will report earnings of ($1.08) per share, with EPS estimates ranging from ($3.64) to $0.02. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Sunday, May 9th. The oil and gas producer reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.18. Occidental Petroleum had a negative return on equity of 29.82% and a negative net margin of 85.93%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm posted ($0.52) EPS. The business’s revenue was down 20.0% on a year-over-year basis.

A number of research firms have weighed in on OXY. Morgan Stanley upped their price target on Occidental Petroleum from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, April 19th. Wolfe Research reaffirmed an “underperform” rating and set a $20.00 price target on shares of Occidental Petroleum in a research report on Monday, April 19th. The Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Thursday, May 27th. Mizuho increased their price objective on Occidental Petroleum from $33.00 to $36.00 and gave the company a “buy” rating in a report on Monday, May 17th. Finally, MKM Partners raised Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, April 14th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $26.05.

In other Occidental Petroleum news, major shareholder Carl C. Icahn sold 3,500,000 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $25.60, for a total transaction of $89,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Carl C. Icahn sold 2,600,000 shares of the stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $26.88, for a total value of $69,888,000.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of OXY. Reby Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth $25,000. Atlas Capital Advisors LLC bought a new position in shares of Occidental Petroleum in the first quarter worth $33,000. E Fund Management Co. Ltd. bought a new position in shares of Occidental Petroleum in the first quarter worth $39,000. Solstein Capital LLC bought a new position in shares of Occidental Petroleum in the first quarter worth $40,000. Finally, Vestor Capital LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 68.92% of the company’s stock.

NYSE:OXY traded down $0.02 during trading hours on Thursday, reaching $28.33. 14,160,168 shares of the stock were exchanged, compared to its average volume of 19,171,311. Occidental Petroleum has a twelve month low of $8.52 and a twelve month high of $32.52. The company has a current ratio of 1.17, a quick ratio of 0.92 and a debt-to-equity ratio of 4.15. The company’s 50 day simple moving average is $25.89. The stock has a market capitalization of $26.44 billion, a PE ratio of -1.89 and a beta of 2.44.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Thursday, June 10th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.14%. The ex-dividend date is Wednesday, June 9th. Occidental Petroleum’s payout ratio is -1.02%.

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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