Zacks Research Has Bearish Forecast for OXY Q1 Earnings

Occidental Petroleum Co. (NYSE:OXY - Free Report) - Investment analysts at Zacks Research dropped their Q1 2027 earnings estimates for shares of Occidental Petroleum in a research note issued to investors on Wednesday, May 28th. Zacks Research analyst J. Saha now anticipates that the oil and gas producer will post earnings per share of $0.89 for the quarter, down from their previous forecast of $0.93. The consensus estimate for Occidental Petroleum's current full-year earnings is $3.58 per share.

A number of other research firms have also weighed in on OXY. Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Raymond James lowered shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $81.00 to $64.00 in a report on Monday, March 10th. JPMorgan Chase & Co. cut their target price on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Finally, Piper Sandler cut their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock traded down $0.69 during trading on Friday, hitting $40.77. 8,911,908 shares of the company's stock were exchanged, compared to its average volume of 11,268,465. The business has a 50-day simple moving average of $41.49 and a 200-day simple moving average of $46.37. The stock has a market capitalization of $40.12 billion, a price-to-earnings ratio of 16.71 and a beta of 0.81. Occidental Petroleum has a 52-week low of $34.79 and a 52-week high of $64.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the business posted $0.63 EPS. The firm's quarterly revenue was up 13.9% on a year-over-year basis.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is 39.02%.

Institutional Investors Weigh In On Occidental Petroleum

Large investors have recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum during the 4th quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at $27,000. VSM Wealth Advisory LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $27,000. Bernard Wealth Management Corp. purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $32,000. Finally, Grove Bank & Trust grew its holdings in shares of Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after purchasing an additional 407 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

About Occidental Petroleum

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.