Occidental Petroleum (NYSE:OXY) – Research analysts at Jefferies Group raised their Q1 2018 earnings per share (EPS) estimates for shares of Occidental Petroleum in a research report issued on Thursday, April 19th. Jefferies Group analyst J. Gammel now forecasts that the oil and gas producer will post earnings of $0.67 per share for the quarter, up from their previous forecast of $0.54. Jefferies Group also issued estimates for Occidental Petroleum’s FY2018 earnings at $2.32 EPS.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. During the same period in the previous year, the business earned ($0.13) earnings per share.
Other equities analysts have also recently issued reports about the company. Deutsche Bank upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Friday, March 23rd. Cowen set a $85.00 target price on Occidental Petroleum and gave the stock a “buy” rating in a research report on Thursday, January 18th. Morgan Stanley boosted their target price on Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Zacks Investment Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, Mizuho set a $79.00 target price on Occidental Petroleum and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. Occidental Petroleum has an average rating of “Hold” and a consensus price target of $74.00.
Shares of NYSE OXY opened at $76.47 on Friday. The firm has a market capitalization of $58,090.09, a PE ratio of 85.92, a P/E/G ratio of 4.22 and a beta of 0.65. Occidental Petroleum has a fifty-two week low of $57.20 and a fifty-two week high of $78.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 0.95.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Green Square Capital LLC boosted its holdings in shares of Occidental Petroleum by 208.2% in the 4th quarter. Green Square Capital LLC now owns 12,196 shares of the oil and gas producer’s stock worth $908,000 after purchasing an additional 8,239 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Occidental Petroleum by 23.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 34,897 shares of the oil and gas producer’s stock worth $2,571,000 after purchasing an additional 6,550 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Occidental Petroleum by 14.9% in the 4th quarter. Xact Kapitalforvaltning AB now owns 76,642 shares of the oil and gas producer’s stock worth $5,645,000 after purchasing an additional 9,916 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Occidental Petroleum by 24,838.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 4,489 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 4,471 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Occidental Petroleum by 5.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 317,391 shares of the oil and gas producer’s stock worth $23,377,000 after purchasing an additional 15,154 shares in the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Friday, March 9th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Thursday, March 8th. Occidental Petroleum’s payout ratio is currently 346.07%.
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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 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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