Q2 2019 EPS Estimates for Occidental Petroleum Co. (OXY) Lowered by Analyst

Occidental Petroleum Co. (NYSE:OXY) – Stock analysts at Piper Jaffray Companies decreased their Q2 2019 earnings per share estimates for Occidental Petroleum in a note issued to investors on Tuesday, May 14th. Piper Jaffray Companies analyst R. Todd now expects that the oil and gas producer will earn $1.21 per share for the quarter, down from their previous estimate of $1.35. Piper Jaffray Companies also issued estimates for Occidental Petroleum’s Q3 2019 earnings at $1.33 EPS, Q4 2019 earnings at $1.19 EPS, FY2019 earnings at $4.57 EPS, Q1 2020 earnings at $1.13 EPS, Q2 2020 earnings at $1.09 EPS, Q3 2020 earnings at $1.04 EPS, Q4 2020 earnings at $0.99 EPS and FY2020 earnings at $4.24 EPS.

Several other analysts have also commented on the stock. KeyCorp decreased their price target on shares of Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. ValuEngine lowered shares of Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 30th. Atlantic Securities lowered shares of Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price target for the company. in a research report on Thursday, April 25th. Barclays lowered shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $77.00 to $70.00 in a research report on Friday, February 15th. Finally, Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $75.01.

OXY stock opened at $52.76 on Friday. The stock has a market cap of $40.20 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 2.77 and a beta of 0.76. Occidental Petroleum has a one year low of $52.62 and a one year high of $87.67. The company has a quick ratio of 1.03, a current ratio of 1.23 and a debt-to-equity ratio of 0.50.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share.

A number of institutional investors and hedge funds have recently bought and sold shares of OXY. Vanguard Group Inc raised its position in Occidental Petroleum by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock worth $5,133,793,000 after buying an additional 1,370,841 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Occidental Petroleum by 3.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 38,076 shares of the oil and gas producer’s stock worth $2,337,000 after buying an additional 1,417 shares during the last quarter. BKD Wealth Advisors LLC raised its position in Occidental Petroleum by 39.4% during the 4th quarter. BKD Wealth Advisors LLC now owns 3,916 shares of the oil and gas producer’s stock worth $240,000 after buying an additional 1,107 shares during the last quarter. Virtu Financial LLC raised its position in Occidental Petroleum by 775.7% during the 4th quarter. Virtu Financial LLC now owns 26,639 shares of the oil and gas producer’s stock worth $1,635,000 after buying an additional 23,597 shares during the last quarter. Finally, BLB&B Advisors LLC raised its position in Occidental Petroleum by 14.3% during the 4th quarter. BLB&B Advisors LLC now owns 47,723 shares of the oil and gas producer’s stock worth $2,929,000 after buying an additional 5,982 shares during the last quarter. 84.05% of the stock is owned by institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders 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 5.91%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is presently 62.28%.

About Occidental Petroleum

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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