Occidental Petroleum Co. (NYSE:OXY) – Investment analysts at Capital One Financial boosted their FY2021 earnings estimates for Occidental Petroleum in a research note issued on Wednesday, January 5th. Capital One Financial analyst R. Tullis now anticipates that the oil and gas producer will post earnings per share of $2.24 for the year, up from their prior estimate of $2.11. Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, November 4th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.21. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.57 billion. Occidental Petroleum had a positive return on equity of 7.75% and a negative net margin of 1.51%. The business’s quarterly revenue was up 107.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.84) EPS.
OXY has been the subject of several other reports. Wells Fargo & Company downgraded Occidental Petroleum from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $35.00 to $29.00 in a research note on Wednesday. Truist raised Occidental Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the company from $35.00 to $50.00 in a research note on Monday, October 18th. Citigroup boosted their target price on Occidental Petroleum from $35.00 to $38.00 in a research report on Monday. Zacks Investment Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Tuesday, December 28th. Finally, Societe Generale boosted their target price on Occidental Petroleum from $35.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Buy” and a consensus target price of $35.67.
Occidental Petroleum stock opened at $32.76 on Friday. The stock has a 50-day simple moving average of $30.77 and a 200-day simple moving average of $29.27. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.89 and a current ratio of 1.08. The company has a market capitalization of $30.60 billion, a P/E ratio of -26.85, a PEG ratio of 0.37 and a beta of 2.32. Occidental Petroleum has a fifty-two week low of $19.00 and a fifty-two week high of $35.75.
A number of large investors have recently made changes to their positions in the business. Crestmont Private Wealth LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at $54,000. Balyasny Asset Management LLC acquired a new stake in Occidental Petroleum during the 3rd quarter valued at $34,553,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Occidental Petroleum by 51.9% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 10,662 shares of the oil and gas producer’s stock valued at $315,000 after buying an additional 3,643 shares during the last quarter. American International Group Inc. grew its holdings in Occidental Petroleum by 2.6% during the 3rd quarter. American International Group Inc. now owns 314,186 shares of the oil and gas producer’s stock valued at $9,294,000 after buying an additional 8,063 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Occidental Petroleum by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,775,281 shares of the oil and gas producer’s stock worth $259,572,000 after purchasing an additional 444,442 shares during the period. Hedge funds and other institutional investors own 66.34% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Shareholders of record on Friday, December 10th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Thursday, December 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently -3.28%.
Occidental Petroleum Company Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following 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 and natural gas.
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