Occidental Petroleum (OXY) Set to Announce Earnings on Tuesday

Occidental Petroleum (NYSE:OXY) will be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $1.61 earnings per share. On average, analysts expect Occidental Petroleum to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Occidental Petroleum Stock Performance

Shares of OXY opened at $64.39 on Monday. Occidental Petroleum has a 52 week low of $55.12 and a 52 week high of $71.18. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a market cap of $57.08 billion, a price-to-earnings ratio of 16.47 and a beta of 1.64. The business has a 50-day simple moving average of $64.80 and a two-hundred day simple moving average of $61.35.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s payout ratio is 22.51%.

Analysts Set New Price Targets

Several brokerages have recently commented on OXY. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Raymond James lowered their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Morgan Stanley upped their price target on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Stephens reissued an “overweight” rating and issued a $74.00 target price on shares of Occidental Petroleum in a report on Thursday, February 15th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Company Profile

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.