$0.13 Earnings Per Share Expected for Occidental Petroleum Corporation (OXY) This Quarter
Brokerages expect Occidental Petroleum Corporation (NYSE:OXY) to announce earnings per share (EPS) of $0.13 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Occidental Petroleum Corporation’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.35. Occidental Petroleum Corporation posted earnings per share of ($0.15) in the same quarter last year, which would suggest a positive year-over-year growth rate of 186.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Occidental Petroleum Corporation will report full-year earnings of $0.68 per share for the current financial year, with EPS estimates ranging from $0.29 to $1.23. For the next year, analysts forecast that the firm will post earnings of $1.30 per share, with EPS estimates ranging from $0.52 to $2.65. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Occidental Petroleum Corporation.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) EPS.
A number of research analysts recently weighed in on the stock. Jefferies Group LLC set a $64.00 target price on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Saturday, July 29th. Barclays PLC set a $38.00 price target on Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Bank of America Corporation restated a “buy” rating and issued a $80.00 price target (down from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $65.14.
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In other news, Director William R. Klesse purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Cedric W. Burgher purchased 1,700 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were purchased at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the purchase, the chief financial officer now owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Grove Bank & Trust raised its position in shares of Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 622 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after buying an additional 250 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares in the last quarter. Finally, Mosaic Family Wealth LLC raised its position in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 80.85% of the company’s stock.
Shares of Occidental Petroleum Corporation (NYSE OXY) traded up 0.90% during midday trading on Friday, hitting $59.70. 3,573,102 shares of the stock were exchanged. The firm’s 50-day moving average is $60.41 and its 200 day moving average is $61.97. The firm has a market cap of $45.65 billion, a PE ratio of 420.42 and a beta of 0.65. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.16%. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,338.46%.
About Occidental Petroleum Corporation
Occidental Petroleum Corporation (Occidental) 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.
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