Brokerages Expect Occidental Petroleum Co. (OXY) to Post $0.40 EPS

Wall Street brokerages forecast that Occidental Petroleum Co. (NYSE:OXY) will report earnings of $0.40 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Occidental Petroleum’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.49. Occidental Petroleum reported earnings per share of ($0.13) during the same quarter last year, which would suggest a positive year-over-year growth rate of 407.7%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, February 13th.

On average, analysts expect that Occidental Petroleum will report full-year earnings of $0.89 per share for the current fiscal year, with EPS estimates ranging from $0.84 to $0.97. For the next year, analysts anticipate that the firm will report earnings of $2.47 per share, with EPS estimates ranging from $1.70 to $3.26. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Occidental Petroleum.

OXY has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Occidental Petroleum from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Bank of America downgraded Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Macquarie initiated coverage on Occidental Petroleum in a research report on Wednesday, January 17th. They issued a “neutral” rating on the stock. Finally, Jefferies Group boosted their target price on Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Occidental Petroleum has an average rating of “Hold” and an average price target of $70.07.

Occidental Petroleum (NYSE OXY) traded up $1.69 during trading hours on Monday, hitting $69.87. The company had a trading volume of 3,941,180 shares, compared to its average volume of 3,930,000. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $53,470.00, a P/E ratio of 98.41, a P/E/G ratio of 4.37 and a beta of 0.53. Occidental Petroleum has a 12 month low of $57.20 and a 12 month high of $78.09.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 annualized dividend and a yield of 4.41%. Occidental Petroleum’s payout ratio is currently 433.80%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Barometer Capital Management Inc. bought a new stake in Occidental Petroleum during the third quarter worth approximately $12,213,000. California Public Employees Retirement System grew its stake in shares of Occidental Petroleum by 3.3% during the third quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock valued at $131,456,000 after buying an additional 64,533 shares during the last quarter. Swiss National Bank grew its stake in shares of Occidental Petroleum by 0.9% during the third quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock valued at $185,698,000 after buying an additional 25,100 shares during the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $355,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Occidental Petroleum during the third quarter valued at approximately $3,792,000. 79.98% of the stock is currently owned by institutional investors.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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