Occidental Petroleum Co. (NYSE:OXY) – Equities researchers at Piper Jaffray Companies dropped their Q4 2018 earnings estimates for Occidental Petroleum in a research report issued to clients and investors on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now forecasts that the oil and gas producer will post earnings of $1.12 per share for the quarter, down from their previous estimate of $1.37. Piper Jaffray Companies has a “Overweight” rating on the stock. Piper Jaffray Companies also issued estimates for Occidental Petroleum’s Q1 2019 earnings at $0.64 EPS, Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.59 EPS, FY2019 earnings at $2.48 EPS, Q1 2020 earnings at $0.59 EPS, Q2 2020 earnings at $0.60 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.59 EPS and FY2020 earnings at $2.37 EPS.
Several other equities research analysts have also commented on the company. Morgan Stanley set a $101.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a research note on Friday, October 12th. Raymond James upgraded Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. Atlantic Securities upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Friday, December 21st. Capital One Financial lowered Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. Finally, KeyCorp began coverage on Occidental Petroleum in a research note on Thursday, December 20th. They issued an “overweight” rating and a $75.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $87.16.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. The business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $4.60 billion. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. The company’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS.
The business 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 dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Friday, December 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 350.56%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OXY. FMR LLC boosted its holdings in shares of Occidental Petroleum by 232.5% during the 2nd quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after purchasing an additional 4,230,065 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at about $14,648,000. Tower Research Capital LLC TRC boosted its holdings in shares of Occidental Petroleum by 3,184.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,138 shares of the oil and gas producer’s stock valued at $1,100,000 after purchasing an additional 12,738 shares during the last quarter. Colony Group LLC boosted its holdings in shares of Occidental Petroleum by 103.6% during the 2nd quarter. Colony Group LLC now owns 10,354 shares of the oil and gas producer’s stock valued at $866,000 after purchasing an additional 5,268 shares during the last quarter. Finally, grace capital bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at about $210,000. 81.36% of the stock is owned by institutional investors and hedge funds.
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.
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