Equities analysts expect Occidental Petroleum Co. (NYSE:OXY) to announce $4.49 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for Occidental Petroleum’s earnings, with the highest sales estimate coming in at $4.70 billion and the lowest estimate coming in at $4.32 billion. Occidental Petroleum reported sales of $4.08 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The firm is expected to issue its next quarterly earnings report on Wednesday, August 14th.
On average, analysts expect that Occidental Petroleum will report full-year sales of $17.11 billion for the current financial year, with estimates ranging from $16.75 billion to $17.61 billion. For the next year, analysts expect that the firm will report sales of $16.48 billion, with estimates ranging from $15.64 billion to $17.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis.
Several brokerages recently weighed in on OXY. TheStreet downgraded shares of Occidental Petroleum from a “b-” rating to a “c+” rating in a research note on Friday, May 24th. ValuEngine downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Zacks Investment Research downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Wolfe Research downgraded shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and cut their target price for the company from $85.00 to $65.00 in a research note on Monday, May 13th. Finally, Royal Bank of Canada boosted their target price on shares of Occidental Petroleum to $76.00 in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $74.48.
Shares of OXY stock opened at $49.28 on Thursday. The company has a 50-day moving average price of $50.47. Occidental Petroleum has a twelve month low of $47.00 and a twelve month high of $86.60. The firm has a market cap of $36.86 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 2.65 and a beta of 0.83. The company has a quick ratio of 1.03, a current ratio of 1.23 and a debt-to-equity ratio of 0.50.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is currently 62.28%.
In other Occidental Petroleum news, Director Avedick Baruyr Poladian bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was purchased at an average price of $48.77 per share, with a total value of $243,850.00. Following the transaction, the director now owns 60,319 shares in the company, valued at $2,941,757.63. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Marcia E. Backus bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $48.09 per share, with a total value of $480,900.00. Following the transaction, the senior vice president now owns 101,248 shares in the company, valued at approximately $4,869,016.32. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 80,660 shares of company stock valued at $3,893,851. Corporate insiders own 0.15% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pinnacle Bank acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $28,000. Sontag Advisory LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $32,000. Liberty Wealth Management LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $34,000. Harvest Group Wealth Management LLC acquired a new stake in Occidental Petroleum during the 1st quarter worth approximately $34,000. Finally, Berman Capital Advisors LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $39,000. 81.70% of the stock is 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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