Occidental Petroleum (NYSE:OXY) Posts Earnings Results

Key Points

• Occidental Petroleum reported quarterly EPS of $1.91, beating analyst estimates of $1.45 by $0.46; net margin was 28.36% and return on equity was 15.31%.
• Shares fell 1.1% to $55.79 during Monday trading. The company declared a quarterly dividend of $0.28 per share, equivalent to a 2.0% annualized yield.
• Analysts’ consensus rating was Hold, with an average price target of $67.88; 12 analysts rated the stock Buy and 15 rated it Hold.

Occidental Petroleum (NYSE:OXY - Get Free Report) released its quarterly earnings data on Monday. The oil and gas producer reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.46, FiscalAI reports. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%.

Occidental Petroleum Stock Down 1.1%

Shares of NYSE OXY traded down $0.59 during trading on Monday, hitting $55.79. The stock had a trading volume of 10,903,287 shares, compared to its average volume of 11,863,535. The firm has a fifty day moving average of $60.05 and a two-hundred day moving average of $56.29. The company has a market capitalization of $55.77 billion, a PE ratio of 8.64, a PEG ratio of 0.65 and a beta of 0.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. Occidental Petroleum has a 12 month low of $38.80 and a 12 month high of $67.45.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 10th will be paid a $0.28 dividend. The ex-dividend date is Thursday, December 10th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum's dividend payout ratio is presently 17.34%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OXY shares. Stifel Nicolaus started coverage on shares of Occidental Petroleum in a report on Thursday, September 10th. They issued a "hold" rating and a $68.00 target price on the stock. Morgan Stanley raised their price target on shares of Occidental Petroleum from $69.00 to $71.00 and gave the company an "equal weight" rating in a research report on Thursday, October 15th. Seaport Research Partners began coverage on Occidental Petroleum in a research note on Thursday, September 3rd. They set a "buy" rating and a $73.00 price target for the company. The Goldman Sachs Group boosted their price objective on Occidental Petroleum from $69.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, October 27th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $68.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and an average price target of $67.88.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa.

Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods.

The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.

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