Occidental Petroleum Co. (NYSE:OXY) – Equities research analysts at KeyCorp lowered their Q3 2019 earnings per share (EPS) estimates for Occidental Petroleum in a research note issued to investors on Thursday, October 17th. KeyCorp analyst L. Mariani now expects that the oil and gas producer will post earnings of $0.60 per share for the quarter, down from their previous forecast of $0.77. KeyCorp also issued estimates for Occidental Petroleum’s FY2019 earnings at $2.80 EPS and FY2020 earnings at $1.55 EPS.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a return on equity of 17.06% and a net margin of 19.65%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS.
NYSE OXY opened at $42.22 on Monday. The stock has a fifty day moving average of $43.65 and a 200-day moving average of $50.32. The stock has a market capitalization of $30.27 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 3.24 and a beta of 0.84. Occidental Petroleum has a 52 week low of $39.97 and a 52 week high of $75.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.00 and a current ratio of 1.20.
In other Occidental Petroleum news, Director Margaret M. Foran bought 1,000 shares of Occidental Petroleum stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $43.15 per share, for a total transaction of $43,150.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Klesse bought 5,000 shares of Occidental Petroleum stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $45.54 per share, for a total transaction of $227,700.00. Following the completion of the acquisition, the director now owns 101,203 shares of the company’s stock, valued at approximately $4,608,784.62. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 38,500 shares of company stock valued at $1,793,075. 0.15% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Clearbridge Investments LLC increased its stake in Occidental Petroleum by 20.5% in the first quarter. Clearbridge Investments LLC now owns 61,097 shares of the oil and gas producer’s stock valued at $4,045,000 after purchasing an additional 10,379 shares during the last quarter. Park National Corp OH increased its stake in Occidental Petroleum by 12.0% in the second quarter. Park National Corp OH now owns 34,631 shares of the oil and gas producer’s stock valued at $1,741,000 after purchasing an additional 3,701 shares during the last quarter. Syquant Capital Sas purchased a new position in Occidental Petroleum in the second quarter valued at approximately $2,489,000. Foundations Investment Advisors LLC increased its stake in Occidental Petroleum by 45.2% in the second quarter. Foundations Investment Advisors LLC now owns 19,315 shares of the oil and gas producer’s stock valued at $950,000 after purchasing an additional 6,015 shares during the last quarter. Finally, WINTON GROUP Ltd increased its stake in Occidental Petroleum by 111.4% in the second quarter. WINTON GROUP Ltd now owns 14,283 shares of the oil and gas producer’s stock valued at $718,000 after purchasing an additional 7,528 shares during the last quarter. Hedge funds and other institutional investors own 85.26% of the company’s stock.
Occidental Petroleum Company Profile
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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