Occidental Petroleum Co. (NYSE:OXY - Free Report) - Zacks Research cut their Q1 2024 EPS estimates for Occidental Petroleum in a research report issued on Monday, April 29th. Zacks Research analyst J. Saha now anticipates that the oil and gas producer will earn $0.61 per share for the quarter, down from their previous estimate of $0.76. The consensus estimate for Occidental Petroleum's current full-year earnings is $3.85 per share. Zacks Research also issued estimates for Occidental Petroleum's Q2 2024 earnings at $0.84 EPS, FY2024 earnings at $3.40 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $1.15 EPS, Q3 2025 earnings at $0.96 EPS, Q4 2025 earnings at $0.88 EPS, FY2025 earnings at $3.91 EPS, Q1 2026 earnings at $1.20 EPS and FY2026 earnings at $4.88 EPS.
Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The company's revenue for the quarter was down 9.6% on a year-over-year basis.
Other equities research analysts also recently issued reports about the stock. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research note on Friday, March 15th. HSBC started coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a "hold" rating and a $65.00 target price on the stock. Truist Financial increased their price target on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, April 5th. Raymond James reduced their price target on shares of Occidental Petroleum from $70.00 to $68.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, January 24th. Finally, Susquehanna raised their target price on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a "positive" rating in a report on Monday, April 22nd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $71.94.
Get Our Latest Stock Analysis on OXY
Occidental Petroleum Price Performance
Shares of Occidental Petroleum stock traded up $0.21 on Thursday, reaching $64.66. The stock had a trading volume of 5,489,010 shares, compared to its average volume of 8,519,972. Occidental Petroleum has a 1 year low of $55.12 and a 1 year high of $71.18. The company has a market cap of $57.32 billion, a P/E ratio of 16.54 and a beta of 1.64. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The business's 50 day moving average is $64.72 and its two-hundred day moving average is $61.43.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in OXY. Oppenheimer & Co. Inc. raised its holdings in Occidental Petroleum by 8.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer's stock valued at $10,139,000 after buying an additional 12,349 shares during the period. SeaCrest Wealth Management LLC raised its holdings in Occidental Petroleum by 8.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer's stock valued at $343,000 after buying an additional 474 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the 3rd quarter valued at $29,665,000. Cullen Investment Group LTD. purchased a new stake in Occidental Petroleum during the 4th quarter valued at $1,006,000. Finally, Koshinski Asset Management Inc. grew its position in Occidental Petroleum by 53.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer's stock valued at $2,877,000 after acquiring an additional 16,871 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.36%. Occidental Petroleum's dividend payout ratio is presently 22.51%.
Occidental Petroleum Company Profile
(
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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.
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