Occidental Petroleum (OXY) to Post Earnings on Wednesday

Occidental Petroleum (NYSE:OXY) is anticipated to issue its Q1 2025 quarterly earnings data after the market closes on Wednesday, May 7th. Analysts expect Occidental Petroleum to post earnings of $0.74 per share and revenue of $6.97 billion for the quarter.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. On average, analysts expect Occidental Petroleum to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Occidental Petroleum Trading Down 0.4 %

Shares of NYSE:OXY opened at $40.35 on Wednesday. The business’s 50 day simple moving average is $44.29 and its 200 day simple moving average is $47.88. Occidental Petroleum has a 1 year low of $34.79 and a 1 year high of $68.17. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The company has a market capitalization of $37.92 billion, a P/E ratio of 16.54 and a beta of 1.02.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were issued a dividend of $0.24 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Monday, March 10th. Occidental Petroleum’s dividend payout ratio is 39.34%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OXY shares. Citigroup reduced their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. cut their target price on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Scotiabank cut Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price target for the company. in a report on Friday, April 11th. Finally, Wells Fargo & Company reduced their price objective on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.19.

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, 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.