Occidental Petroleum Co. Expected to Post FY2019 Earnings of $6.31 Per Share (OXY)

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Occidental Petroleum Co. (NYSE:OXY) – Investment analysts at Mitsubishi UFJ Financial Group decreased their FY2019 earnings per share (EPS) estimates for Occidental Petroleum in a report released on Monday, October 15th. Mitsubishi UFJ Financial Group analyst M. Mcallister now anticipates that the oil and gas producer will post earnings per share of $6.31 for the year, down from their prior forecast of $6.39. Mitsubishi UFJ Financial Group currently has a “Neutral” rating and a $92.00 target price on the stock. Mitsubishi UFJ Financial Group also issued estimates for Occidental Petroleum’s Q4 2019 earnings at $1.30 EPS, Q1 2020 earnings at $1.34 EPS, Q2 2020 earnings at $1.26 EPS and Q3 2020 earnings at $1.25 EPS.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.11). The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS.

Other analysts have also issued research reports about the stock. Mizuho restated a “buy” rating on shares of Occidental Petroleum in a research note on Tuesday, July 24th. Morgan Stanley set a $101.00 price target on shares of Occidental Petroleum and gave the stock a “buy” rating in a research note on Friday, October 12th. Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Wednesday, October 10th. Edward Jones raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Finally, Bank of America lifted their price objective on shares of Occidental Petroleum from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, August 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. Occidental Petroleum presently has an average rating of “Buy” and an average price target of $84.06.

Shares of NYSE:OXY opened at $72.18 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.36 and a quick ratio of 1.19. The firm has a market capitalization of $55.76 billion, a P/E ratio of 81.10, a P/E/G ratio of 2.59 and a beta of 0.58. Occidental Petroleum has a 12-month low of $62.47 and a 12-month high of $87.67.

A number of institutional investors have recently added to or reduced their stakes in the business. Westbourne Investment Advisors Inc. acquired a new position in shares of Occidental Petroleum during the third quarter valued at $138,000. Kaizen Advisory LLC boosted its holdings in shares of Occidental Petroleum by 142.0% during the second quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock valued at $150,000 after acquiring an additional 1,052 shares during the period. GeoSphere Capital Management LLC acquired a new position in shares of Occidental Petroleum during the second quarter valued at $151,000. Spectrum Management Group Inc. acquired a new position in shares of Occidental Petroleum during the second quarter valued at $160,000. Finally, Smithfield Trust Co. boosted its holdings in shares of Occidental Petroleum by 367.1% during the second quarter. Smithfield Trust Co. now owns 1,971 shares of the oil and gas producer’s stock valued at $164,000 after acquiring an additional 1,549 shares during the period. 80.34% of the stock is owned by hedge funds and other institutional investors.

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was purchased at an average price of $78.55 per share, with a total value of $392,750.00. Following the completion of the acquisition, the director now directly owns 77,963 shares in the company, valued at approximately $6,123,993.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Friday, December 7th. Occidental Petroleum’s dividend payout ratio is presently 350.56%.

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 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.

Further Reading: What is an Initial Public Offering (IPO)?

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

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