Occidental Petroleum (OXY) Set to Announce Earnings on Wednesday

Occidental Petroleum (NYSE:OXYGet Free Report) will post its quarterly earnings results after the market closes on Wednesday, February 14th. Analysts expect Occidental Petroleum to post earnings of $1.00 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Occidental Petroleum Stock Up 1.0 %

NYSE OXY opened at $58.03 on Tuesday. The firm has a market capitalization of $51.09 billion, a price-to-earnings ratio of 12.70 and a beta of 1.64. Occidental Petroleum has a 52 week low of $55.12 and a 52 week high of $67.67. The company has a quick ratio of 0.70, a current ratio of 0.92 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average of $58.19 and a two-hundred day moving average of $61.26.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be issued a $0.22 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, March 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 15.75%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent research reports. Wolfe Research lowered shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Friday, November 10th. Susquehanna lifted their price target on shares of Occidental Petroleum from $72.00 to $78.00 and gave the company a “positive” rating in a research note on Wednesday, October 18th. Morgan Stanley raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and set a $68.00 target price on the stock in a research note on Monday, December 11th. Mizuho lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a report on Wednesday, January 3rd. Finally, Raymond James reduced their price target on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.29.

Read Our Latest Stock Analysis on Occidental Petroleum

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 3,200,799 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were bought at an average cost of $56.55 per share, for a total transaction of $181,005,183.45. Following the acquisition, the insider now directly owns 238,533,189 shares in the company, valued at approximately $13,489,051,837.95. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have acquired 8,720,708 shares of company stock valued at $505,766,000. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

A number of large investors have recently modified their holdings of OXY. American National Insurance Co. purchased a new stake in Occidental Petroleum during the 1st quarter worth approximately $228,000. SVB Wealth LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $221,000. Cowa LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $214,000. WealthPLAN Partners LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $208,000. Finally, Sawtooth Solutions LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $207,000. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Company Profile

(Get Free Report)

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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

Further Reading

Earnings History for Occidental Petroleum (NYSE:OXY)

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