Brokerages expect Occidental Petroleum Co. (NYSE:OXY) to report $4.39 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Occidental Petroleum’s earnings. The highest sales estimate is $5.09 billion and the lowest is $3.81 billion. Occidental Petroleum posted sales of $6.45 billion in the same quarter last year, which suggests a negative year over year growth rate of 31.9%. The firm is expected to announce its next earnings results on Monday, February 22nd.
According to Zacks, analysts expect that Occidental Petroleum will report full year sales of $17.98 billion for the current year, with estimates ranging from $16.88 billion to $20.31 billion. For the next financial year, analysts anticipate that the firm will report sales of $18.34 billion, with estimates ranging from $16.73 billion to $20.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Sunday, February 21st. The oil and gas producer reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.19). Occidental Petroleum had a negative net margin of 76.17% and a negative return on equity of 15.55%. During the same quarter last year, the business posted ($0.30) earnings per share.
A number of research firms have commented on OXY. Bank of America lifted their price objective on shares of Occidental Petroleum from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, February 8th. Morgan Stanley increased their price objective on shares of Occidental Petroleum from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, December 11th. Susquehanna Bancshares upgraded Occidental Petroleum from a “neutral” rating to a “positive” rating and set a $18.00 target price for the company in a research note on Friday, November 20th. Societe Generale began coverage on Occidental Petroleum in a research report on Tuesday, January 19th. They set a “hold” rating and a $24.30 price target on the stock. Finally, MKM Partners lowered Occidental Petroleum from a “buy” rating to a “neutral” rating in a research report on Monday, December 7th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $19.59.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Reby Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter valued at $25,000. Grace Capital raised its stake in shares of Occidental Petroleum by 58.5% in the 4th quarter. Grace Capital now owns 1,585 shares of the oil and gas producer’s stock worth $166,000 after buying an additional 585 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Occidental Petroleum by 122.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,872 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,029 shares during the period. CX Institutional boosted its stake in Occidental Petroleum by 93.9% during the fourth quarter. CX Institutional now owns 2,238 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 1,084 shares in the last quarter. Finally, Vestor Capital LLC acquired a new position in Occidental Petroleum during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 66.64% of the company’s stock.
NYSE:OXY traded down $0.32 during trading hours on Thursday, reaching $26.15. 1,364,073 shares of the stock were exchanged, compared to its average volume of 20,473,420. Occidental Petroleum has a 52 week low of $8.52 and a 52 week high of $40.55. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 3.56. The stock has a market capitalization of $24.35 billion, a P/E ratio of -1.45 and a beta of 2.35. The firm has a 50 day simple moving average of $22.44 and a 200-day simple moving average of $15.63.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 10th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. Occidental Petroleum’s dividend payout ratio is presently 2.76%.
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 Latin America. The company operates through three segments: Oil and Gas, Chemical, and Marketing and Midstream.
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