Occidental Petroleum Co. (NYSE:OXY) – Analysts at Jefferies Financial Group lowered their FY2019 earnings estimates for shares of Occidental Petroleum in a note issued to investors on Wednesday, April 17th, Zacks Investment Research reports. Jefferies Financial Group analyst J. Gammel now anticipates that the oil and gas producer will post earnings per share of $3.17 for the year, down from their previous forecast of $3.41. Jefferies Financial Group currently has a “Hold” rating and a $66.00 target price on the stock.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis.
Shares of NYSE OXY traded down $1.36 during midday trading on Friday, reaching $54.97. The company’s stock had a trading volume of 17,787,053 shares, compared to its average volume of 14,704,448. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.23 and a quick ratio of 1.17. Occidental Petroleum has a one year low of $54.50 and a one year high of $87.67. The company has a market capitalization of $42.13 billion, a P/E ratio of 10.97, a PEG ratio of 2.87 and a beta of 0.76.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is presently 62.28%.
A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Norges Bank purchased a new position in Occidental Petroleum during the fourth quarter valued at approximately $475,929,000. Oregon Public Employees Retirement Fund grew its position in Occidental Petroleum by 5,978.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,105,650 shares of the oil and gas producer’s stock valued at $83,000 after purchasing an additional 5,021,655 shares in the last quarter. Dodge & Cox grew its position in Occidental Petroleum by 58.7% during the third quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock valued at $812,488,000 after purchasing an additional 3,656,670 shares in the last quarter. Millennium Management LLC grew its position in Occidental Petroleum by 401.0% during the fourth quarter. Millennium Management LLC now owns 3,275,239 shares of the oil and gas producer’s stock valued at $201,034,000 after purchasing an additional 2,621,463 shares in the last quarter. Finally, Vanguard Group Inc grew its position in Occidental Petroleum by 2.2% during the third quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock valued at $5,133,793,000 after purchasing an additional 1,370,841 shares in the last quarter. 84.17% of the stock is currently owned by hedge funds and other institutional investors.
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 and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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