Occidental Petroleum Co. Forecasted to Earn Q1 2022 Earnings of $1.76 Per Share (NYSE:OXY)

Occidental Petroleum Co. (NYSE:OXYGet Rating) – Research analysts at Piper Sandler raised their Q1 2022 earnings estimates for shares of Occidental Petroleum in a research report issued on Thursday, April 7th. Piper Sandler analyst R. Todd now anticipates that the oil and gas producer will post earnings of $1.76 per share for the quarter, up from their previous forecast of $1.16. Piper Sandler has a “Overweight” rating and a $88.00 price objective on the stock. Piper Sandler also issued estimates for Occidental Petroleum’s Q2 2022 earnings at $3.48 EPS, Q3 2022 earnings at $3.75 EPS, Q4 2022 earnings at $3.87 EPS, FY2022 earnings at $12.87 EPS, Q1 2023 earnings at $3.64 EPS, Q2 2023 earnings at $3.77 EPS, Q3 2023 earnings at $2.88 EPS, Q4 2023 earnings at $2.49 EPS and FY2023 earnings at $12.78 EPS.

A number of other research analysts also recently issued reports on the stock. StockNews.com raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Friday, April 1st. Susquehanna Bancshares upped their price target on shares of Occidental Petroleum from $46.00 to $52.00 in a research report on Tuesday, March 1st. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $33.00 to $51.00 and gave the stock an “underweight” rating in a report on Friday, March 11th. Morgan Stanley reiterated a “hold” rating and set a $52.00 target price on shares of Occidental Petroleum in a research report on Friday, March 25th. Finally, MKM Partners raised their price target on Occidental Petroleum from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, March 1st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Buy” and an average target price of $54.33.

Shares of OXY opened at $59.14 on Monday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.00 and a current ratio of 1.23. Occidental Petroleum has a fifty-two week low of $21.62 and a fifty-two week high of $63.24. The firm has a 50 day moving average price of $50.57 and a 200-day moving average price of $38.65. The firm has a market cap of $55.41 billion, a price-to-earnings ratio of 37.91, a PEG ratio of 0.24 and a beta of 2.06.

Occidental Petroleum (NYSE:OXYGet Rating) last announced its earnings results on Thursday, February 24th. The oil and gas producer reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.40. Occidental Petroleum had a net margin of 8.82% and a return on equity of 31.13%. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $7.39 billion. During the same period in the previous year, the business posted ($0.78) earnings per share. Occidental Petroleum’s revenue for the quarter was up 136.4% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 15th. Shareholders of record on Thursday, March 10th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, March 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.88%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.01. Occidental Petroleum’s payout ratio is 33.33%.

In related news, Director Avedick Baruyr Poladian sold 20,000 shares of the stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $57.23, for a total transaction of $1,144,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vicki A. Hollub purchased 14,191 shares of Occidental Petroleum stock in a transaction on Monday, March 28th. The shares were purchased at an average cost of $56.24 per share, with a total value of $798,101.84. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Simon Quick Advisors LLC increased its holdings in shares of Occidental Petroleum by 59.7% during the third quarter. Simon Quick Advisors LLC now owns 923 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 345 shares in the last quarter. Signaturefd LLC increased its stake in Occidental Petroleum by 8.1% in the 3rd quarter. Signaturefd LLC now owns 4,664 shares of the oil and gas producer’s stock worth $138,000 after acquiring an additional 350 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its position in shares of Occidental Petroleum by 4.8% during the 4th quarter. Dumont & Blake Investment Advisors LLC now owns 7,582 shares of the oil and gas producer’s stock valued at $220,000 after purchasing an additional 350 shares during the last quarter. Peapack Gladstone Financial Corp boosted its holdings in Occidental Petroleum by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 19,975 shares of the oil and gas producer’s stock valued at $591,000 after acquiring an additional 395 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Occidental Petroleum by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 55,600 shares of the oil and gas producer’s stock worth $1,612,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 72.01% of the company’s stock.

Occidental Petroleum Company Profile (Get Rating)

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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

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