Occidental Petroleum (OXY) Set to Announce Earnings on Tuesday

Occidental Petroleum (NYSE:OXY) is set to post its quarterly earnings results after the market closes on Tuesday, November 12th. Analysts expect Occidental Petroleum to post earnings of $0.87 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. Occidental Petroleum’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts expect Occidental Petroleum to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $50.56 on Tuesday. Occidental Petroleum has a one year low of $49.51 and a one year high of $71.18. The firm’s 50 day moving average price is $52.68 and its 200-day moving average price is $58.42. The firm has a market cap of $45.79 billion, a P/E ratio of 12.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Wall Street Analysts Forecast Growth

OXY has been the subject of several recent analyst reports. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price for the company. Barclays dropped their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Truist Financial lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. Mizuho lowered their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Wolfe Research began coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $65.72.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.