Occidental Petroleum Co. Expected to Earn FY2019 Earnings of $3.17 Per Share (NYSE:OXY)

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.

Other analysts also recently issued reports about the stock. Oppenheimer assumed coverage on shares of Occidental Petroleum in a report on Wednesday, March 27th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, April 16th. Royal Bank of Canada boosted their price target on shares of Occidental Petroleum to $76.00 in a report on Tuesday. ValuEngine lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Finally, Citigroup lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $72.00 in a report on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Occidental Petroleum currently has an average rating of “Hold” and an average target price of $78.50.

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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Earnings History and Estimates for Occidental Petroleum (NYSE:OXY)

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