Brokerages Anticipate Occidental Petroleum Co. (OXY) to Post $0.74 Earnings Per Share

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Wall Street brokerages expect Occidental Petroleum Co. (NYSE:OXY) to post $0.74 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Occidental Petroleum’s earnings, with estimates ranging from $0.50 to $0.97. Occidental Petroleum reported earnings per share of $0.92 in the same quarter last year, which suggests a negative year over year growth rate of 19.6%. The business is expected to report its next earnings report on Tuesday, May 14th.

On average, analysts expect that Occidental Petroleum will report full year earnings of $3.19 per share for the current fiscal year, with EPS estimates ranging from $2.11 to $4.25. For the next year, analysts expect that the firm will post earnings of $3.06 per share, with EPS estimates ranging from $1.95 to $4.50. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.10. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.39 billion. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share.

Several analysts have recently weighed in on the stock. Citigroup downgraded shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $72.00 in a report on Tuesday, February 19th. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Mizuho reissued a “buy” rating and set a $82.00 price objective on shares of Occidental Petroleum in a report on Wednesday, February 13th. Zacks Investment Research raised shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Capital One Financial downgraded shares of Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $84.53.

Shares of NYSE:OXY traded up $0.38 during midday trading on Friday, hitting $65.59. The stock had a trading volume of 42,192 shares, compared to its average volume of 4,403,438. The company has a market cap of $48.77 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.27 and a beta of 0.83. The company has a quick ratio of 1.17, a current ratio of 1.34 and a debt-to-equity ratio of 0.48. Occidental Petroleum has a 1 year low of $56.83 and a 1 year high of $87.67.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, March 11th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Friday, March 8th. Occidental Petroleum’s payout ratio is currently 62.28%.

A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Robeco Institutional Asset Management B.V. raised its position in Occidental Petroleum by 19.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,626,409 shares of the oil and gas producer’s stock worth $133,805,000 after acquiring an additional 263,621 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Occidental Petroleum by 17.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 15,225 shares of the oil and gas producer’s stock worth $1,251,000 after acquiring an additional 2,221 shares during the last quarter. Chicago Equity Partners LLC raised its position in Occidental Petroleum by 7.7% during the third quarter. Chicago Equity Partners LLC now owns 22,680 shares of the oil and gas producer’s stock worth $1,864,000 after acquiring an additional 1,625 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Occidental Petroleum by 10.8% during the third quarter. Daiwa Securities Group Inc. now owns 31,482 shares of the oil and gas producer’s stock worth $2,586,000 after acquiring an additional 3,068 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Occidental Petroleum by 9.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,399 shares of the oil and gas producer’s stock worth $3,320,000 after acquiring an additional 3,326 shares during the last quarter. Institutional investors own 82.58% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.

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

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