Occidental Petroleum (NYSE:OXY) Posts Earnings Results, Beats Estimates By $0.01 EPS

Occidental Petroleum (NYSE:OXY) released its quarterly earnings data on Tuesday. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01, Briefing.com reports. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS.

Occidental Petroleum Stock Up 0.3 %

Occidental Petroleum stock opened at $63.85 on Thursday. The company’s 50 day simple moving average is $64.98 and its 200 day simple moving average is $61.34. Occidental Petroleum has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The firm has a market capitalization of $56.60 billion, a price-to-earnings ratio of 16.29 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is 22.51%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of analyst reports. HSBC initiated coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Morgan Stanley increased their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Stephens reiterated an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a research report on Thursday, February 15th. Finally, Raymond James dropped their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.00.

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.