Occidental Petroleum Co. (NYSE:OXY) – Analysts at Capital One Financial raised their FY2018 EPS estimates for Occidental Petroleum in a note issued to investors on Tuesday, December 4th. Capital One Financial analyst R. Tullis now anticipates that the oil and gas producer will post earnings of $5.21 per share for the year, up from their previous estimate of $4.65. Capital One Financial also issued estimates for Occidental Petroleum’s Q4 2018 earnings at $1.41 EPS, Q1 2019 earnings at $1.03 EPS, Q2 2019 earnings at $1.07 EPS, Q3 2019 earnings at $1.16 EPS, Q4 2019 earnings at $1.13 EPS and FY2019 earnings at $4.38 EPS.
A number of other research firms also recently weighed in on OXY. Piper Jaffray Companies initiated coverage on Occidental Petroleum in a report on Friday, September 28th. They set an “overweight” rating on the stock. Mitsubishi UFJ Financial Group reduced their target price on Occidental Petroleum to $92.00 and set a “neutral” rating on the stock in a report on Tuesday, October 16th. Raymond James upgraded Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. Cowen initiated coverage on Occidental Petroleum in a report on Thursday, November 29th. They set a “market perform” rating and a $80.00 target price on the stock. Finally, Edward Jones upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Occidental Petroleum currently has an average rating of “Buy” and an average price target of $88.00.
OXY stock opened at $67.52 on Thursday. Occidental Petroleum has a fifty-two week low of $62.47 and a fifty-two week high of $87.67. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.47. The company has a market cap of $52.60 billion, a price-to-earnings ratio of 75.87, a PEG ratio of 2.25 and a beta of 0.82.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was up 98.9% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of the company. Sawtooth Solutions LLC boosted its position in shares of Occidental Petroleum by 2.0% in the 2nd quarter. Sawtooth Solutions LLC now owns 34,912 shares of the oil and gas producer’s stock worth $2,922,000 after purchasing an additional 679 shares in the last quarter. Segment Wealth Management LLC lifted its position in Occidental Petroleum by 20.5% in the 3rd quarter. Segment Wealth Management LLC now owns 4,052 shares of the oil and gas producer’s stock valued at $333,000 after acquiring an additional 689 shares in the last quarter. HighPoint Advisor Group LLC lifted its position in Occidental Petroleum by 4.7% in the 3rd quarter. HighPoint Advisor Group LLC now owns 16,151 shares of the oil and gas producer’s stock valued at $1,168,000 after acquiring an additional 721 shares in the last quarter. Jennison Associates LLC lifted its position in Occidental Petroleum by 8.8% in the 3rd quarter. Jennison Associates LLC now owns 8,952 shares of the oil and gas producer’s stock valued at $736,000 after acquiring an additional 726 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in Occidental Petroleum by 0.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 98,708 shares of the oil and gas producer’s stock valued at $8,260,000 after acquiring an additional 729 shares in the last quarter. 81.63% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be given a $0.78 dividend. The ex-dividend date is Friday, December 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.62%. Occidental Petroleum’s dividend payout ratio is currently 350.56%.
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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