$1.97 Earnings Per Share Expected for Occidental Petroleum Co. (NYSE:OXY) This Quarter

Equities analysts predict that Occidental Petroleum Co. (NYSE:OXY – Get Rating) will announce earnings per share of $1.97 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Occidental Petroleum’s earnings, with the highest EPS estimate coming in at $2.41 and the lowest estimate coming in at $1.74. Occidental Petroleum posted earnings per share of ($0.15) in the same quarter last year, which indicates a positive year-over-year growth rate of 1,413.3%. The business is expected to announce its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Occidental Petroleum will report full year earnings of $9.29 per share for the current fiscal year, with EPS estimates ranging from $7.14 to $15.08. For the next financial year, analysts anticipate that the company will post earnings of $7.85 per share, with EPS estimates ranging from $4.95 to $14.59. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Occidental Petroleum.

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

OXY has been the topic of a number of analyst reports. Mizuho upped their target price on Occidental Petroleum from $78.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, March 31st. Morgan Stanley upped their target price on Occidental Petroleum from $52.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, April 22nd. Susquehanna Bancshares upped their target price on Occidental Petroleum from $58.00 to $71.00 in a report on Monday, April 25th. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a research report on Tuesday, February 8th. Finally, Susquehanna upped their target price on Occidental Petroleum from $58.00 to $71.00 in a research report on Monday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $61.42.

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

Several institutional investors have recently added to or reduced their stakes in OXY. GQG Partners LLC lifted its position in Occidental Petroleum by 15.7% in the fourth quarter. GQG Partners LLC now owns 22,978,823 shares of the oil and gas producer’s stock valued at $666,054,000 after acquiring an additional 3,123,792 shares during the last quarter. JB Investments Management LLC increased its stake in Occidental Petroleum by 1.8% in the fourth quarter. JB Investments Management LLC now owns 22,386,287 shares of the oil and gas producer’s stock valued at $648,978,000 after purchasing an additional 394,537 shares during the period. Dimensional Fund Advisors LP increased its stake in Occidental Petroleum by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,154,947 shares of the oil and gas producer’s stock valued at $323,362,000 after purchasing an additional 421,344 shares during the period. Bank of New York Mellon Corp increased its stake in Occidental Petroleum by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 8,775,281 shares of the oil and gas producer’s stock valued at $259,572,000 after purchasing an additional 444,442 shares during the period. Finally, Laurion Capital Management LP increased its stake in Occidental Petroleum by 152.8% in the fourth quarter. Laurion Capital Management LP now owns 5,080,754 shares of the oil and gas producer’s stock valued at $147,291,000 after purchasing an additional 3,071,233 shares during the period. 86.15% of the stock is owned by institutional investors and hedge funds.

NYSE OXY traded up $2.65 during trading hours on Friday, hitting $64.94. 30,815,484 shares of the company were exchanged, compared to its average volume of 24,905,924. The stock has a 50-day moving average price of $57.32 and a 200 day moving average price of $41.98. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 2.79. Occidental Petroleum has a 52 week low of $21.62 and a 52 week high of $64.98. The stock has a market cap of $60.84 billion, a PE ratio of 41.63, a price-to-earnings-growth ratio of 0.20 and a beta of 1.94.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, June 10th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.80%. Occidental Petroleum’s dividend payout ratio is currently 33.33%.

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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