Scotiabank Has Strong Estimate for OXY FY2026 Earnings

Occidental Petroleum Corporation (NYSE:OXY - Free Report) - Analysts at Scotiabank boosted their FY2026 earnings per share estimates for shares of Occidental Petroleum in a research report issued to clients and investors on Thursday, April 23rd. Scotiabank analyst B. Zhang now expects that the oil and gas producer will earn $5.05 per share for the year, up from their prior estimate of $0.30. Scotiabank currently has a "Sector Perform" rating and a $57.00 price objective on the stock. The consensus estimate for Occidental Petroleum's current full-year earnings is $4.01 per share. Scotiabank also issued estimates for Occidental Petroleum's FY2027 earnings at $3.35 EPS.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.13. The firm had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $6.02 billion. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The company's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS.

A number of other equities analysts have also recently issued reports on OXY. Wall Street Zen upgraded Occidental Petroleum from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Stephens increased their target price on Occidental Petroleum from $59.00 to $74.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. increased their target price on Occidental Petroleum from $63.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, April 13th. Roth Mkm increased their target price on Occidental Petroleum from $45.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, April 15th. Finally, Susquehanna increased their target price on Occidental Petroleum from $60.00 to $67.00 and gave the stock a "positive" rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and an average target price of $61.83.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $57.27 on Tuesday. The stock has a market capitalization of $56.79 billion, a price-to-earnings ratio of 35.57 and a beta of 0.23. Occidental Petroleum has a 52-week low of $38.72 and a 52-week high of $67.45. The stock's 50 day moving average price is $57.07 and its two-hundred day moving average price is $47.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lighthouse Investment Partners LLC purchased a new stake in Occidental Petroleum in the 3rd quarter valued at $22,345,000. DNB Asset Management AS raised its position in Occidental Petroleum by 100.3% in the 3rd quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer's stock valued at $12,654,000 after buying an additional 134,128 shares during the last quarter. Mirabella Financial Services LLP raised its position in Occidental Petroleum by 154.7% in the 3rd quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer's stock valued at $1,394,000 after buying an additional 17,958 shares during the last quarter. Gifford Fong Associates raised its position in Occidental Petroleum by 41.2% in the 3rd quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer's stock valued at $8,100,000 after buying an additional 50,000 shares during the last quarter. Finally, Cooperman Leon G purchased a new stake in Occidental Petroleum in the 3rd quarter valued at $15,947,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 10th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 10th. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.24. Occidental Petroleum's payout ratio is currently 64.60%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental's operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.