Zacks: Brokerages Anticipate Occidental Petroleum Co. (NYSE:OXY) Will Announce Earnings of $0.18 Per Share

Wall Street analysts expect that Occidental Petroleum Co. (NYSE:OXY) will report earnings per share (EPS) of $0.18 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Occidental Petroleum’s earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at $0.42. Occidental Petroleum reported earnings per share of $1.22 in the same quarter last year, which suggests a negative year-over-year growth rate of 85.2%. The company is scheduled to announce its next earnings results on Tuesday, February 11th.

According to Zacks, analysts expect that Occidental Petroleum will report full year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from ($0.38) to $2.34. For the next financial year, analysts expect that the business will report earnings of $1.37 per share, with EPS estimates ranging from $0.22 to $2.93. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.30). The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.59 billion. Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. Occidental Petroleum’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the business posted $1.77 earnings per share.

A number of research analysts recently issued reports on OXY shares. Barclays started coverage on Occidental Petroleum in a report on Monday, August 19th. They set an “equal weight” rating and a $61.00 target price on the stock. Piper Jaffray Companies set a $59.00 target price on Occidental Petroleum and gave the stock a “buy” rating in a report on Friday, August 16th. Jefferies Financial Group started coverage on Occidental Petroleum in a report on Friday, August 23rd. They set a “hold” rating and a $47.00 target price on the stock. Tudor Pickering lowered Occidental Petroleum from a “hold” rating to a “sell” rating and set a $36.00 target price on the stock. in a report on Monday, November 11th. Finally, Morgan Stanley lowered their target price on Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating on the stock in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $59.08.

In related news, Director William R. Klesse purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $45.54 per share, for a total transaction of $227,700.00. Following the transaction, the director now directly owns 101,203 shares of the company’s stock, valued at approximately $4,608,784.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Klesse purchased 12,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $39.31 per share, with a total value of $471,720.00. Following the transaction, the director now directly owns 113,203 shares in the company, valued at $4,450,009.93. The disclosure for this purchase can be found here. Insiders purchased a total of 22,000 shares of company stock valued at $912,520 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in Occidental Petroleum by 39.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 33,365,328 shares of the oil and gas producer’s stock worth $1,677,609,000 after acquiring an additional 9,386,180 shares during the period. Macquarie Group Ltd. boosted its position in Occidental Petroleum by 24.6% during the 2nd quarter. Macquarie Group Ltd. now owns 13,311,398 shares of the oil and gas producer’s stock worth $669,297,000 after acquiring an additional 2,630,424 shares during the period. Morgan Stanley boosted its position in Occidental Petroleum by 0.4% during the 2nd quarter. Morgan Stanley now owns 8,002,841 shares of the oil and gas producer’s stock worth $402,383,000 after acquiring an additional 28,283 shares during the period. Charles Schwab Investment Advisory Inc. boosted its position in Occidental Petroleum by 86.7% during the 2nd quarter. Charles Schwab Investment Advisory Inc. now owns 5,839,718 shares of the oil and gas producer’s stock worth $293,621,000 after acquiring an additional 2,712,579 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Occidental Petroleum by 12.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,215,304 shares of the oil and gas producer’s stock worth $211,946,000 after acquiring an additional 466,208 shares during the period. Hedge funds and other institutional investors own 72.86% of the company’s stock.

NYSE:OXY traded down $1.07 during mid-day trading on Friday, reaching $38.23. 5,610,386 shares of the stock were exchanged, compared to its average volume of 10,720,800. The business has a fifty day moving average price of $41.32 and a 200 day moving average price of $47.29. The firm has a market capitalization of $35.11 billion, a PE ratio of 7.63, a PEG ratio of 4.32 and a beta of 0.85. Occidental Petroleum has a 1-year low of $37.60 and a 1-year high of $73.64. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a $0.79 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.27%. Occidental Petroleum’s dividend payout ratio (DPR) is 63.07%.

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

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