Occidental Petroleum Corp. (NYSE:OXY) – Investment analysts at Credit Agricole SA decreased their Q3 2016 earnings per share (EPS) estimates for shares of Occidental Petroleum Corp. in a research report issued on Wednesday. Credit Agricole SA analyst A. Sen now anticipates that the brokerage will post earnings of ($0.13) per share for the quarter, down from their prior forecast of ($0.08). Credit Agricole SA has a “Buy” rating on the stock. Credit Agricole SA also issued estimates for Occidental Petroleum Corp.’s FY2016 earnings at ($0.88) EPS.

Occidental Petroleum Corp. (NYSE:OXY) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.18). The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.73 billion. Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. The business’s quarterly revenue was down 27.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS.

Earnings History and Estimates for Occidental Petroleum Corp. (NYSE:OXY)

Several other research firms have also commented on OXY. Jefferies Group reissued a “hold” rating on shares of Occidental Petroleum Corp. in a research note on Sunday, July 10th. Deutsche Bank AG lowered shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 target price for the company. in a research note on Friday, August 5th. Raymond James Financial Inc. lowered shares of Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 target price for the company. in a research note on Thursday, July 7th. JPMorgan Chase & Co. lowered shares of Occidental Petroleum Corp. from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $76.11 to $78.00 in a report on Monday, September 12th. They noted that the move was a valuation call. Finally, Barclays PLC boosted their price target on shares of Occidental Petroleum Corp. from $60.00 to $61.00 and gave the company an “underweight” rating in a report on Thursday, July 14th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $76.06.

Occidental Petroleum Corp. (NYSE:OXY) opened at 73.22 on Friday. Occidental Petroleum Corp. has a 12-month low of $58.24 and a 12-month high of $78.48. The company’s 50 day moving average is $73.75 and its 200 day moving average is $74.56. The firm’s market cap is $55.93 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 9th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Wednesday, December 7th. Occidental Petroleum Corp.’s dividend payout ratio is currently -29.57%.

In related news, Director Stephen I. Chazen sold 9,000 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $73.76, for a total transaction of $663,840.00. Following the completion of the sale, the director now directly owns 1,738,119 shares of the company’s stock, valued at approximately $128,203,657.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen I. Chazen sold 5,000 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $73.95, for a total transaction of $369,750.00. Following the sale, the director now directly owns 1,745,119 shares of the company’s stock, valued at $129,051,550.05. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Hermes Investment Management Ltd. increased its stake in shares of Occidental Petroleum Corp. by 21.8% in the second quarter. Hermes Investment Management Ltd. now owns 209,801 shares of the company’s stock worth $15,853,000 after buying an additional 37,600 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of Occidental Petroleum Corp. by 0.5% in the second quarter. Cullen Frost Bankers Inc. now owns 302,940 shares of the company’s stock worth $22,890,000 after buying an additional 1,525 shares during the period. Confluence Investment Management LLC increased its stake in shares of Occidental Petroleum Corp. by 7.4% in the second quarter. Confluence Investment Management LLC now owns 134,076 shares of the company’s stock worth $10,131,000 after buying an additional 9,217 shares during the period. National Pension Service increased its stake in shares of Occidental Petroleum Corp. by 4.3% in the first quarter. National Pension Service now owns 413,416 shares of the company’s stock worth $28,290,000 after buying an additional 16,931 shares during the period. Finally, CWM LLC increased its stake in shares of Occidental Petroleum Corp. by 16.6% in the second quarter. CWM LLC now owns 307,691 shares of the company’s stock worth $23,249,000 after buying an additional 43,911 shares during the period. 80.80% of the stock is owned by institutional investors and hedge funds.

About Occidental Petroleum Corp.

Occidental Petroleum Corporation is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

5 Day Chart for NYSE:OXY

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