Occidental Petroleum (NYSE:OXY) Issues Earnings Results

Occidental Petroleum (NYSE:OXY) announced its quarterly earnings results on Monday. The oil and gas producer reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.46, FiscalAI reports. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.80 billion.

Occidental Petroleum Stock Down 1.1%

OXY traded down $0.59 during midday trading on Monday, hitting $55.79. The company had a trading volume of 11,051,361 shares, compared to its average volume of 11,880,319. Occidental Petroleum has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a market capitalization of $55.77 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.65 and a beta of 0.16. The stock’s 50 day moving average price is $60.05 and its 200 day moving average price is $56.29. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 10th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is 17.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Seaport Research Partners assumed coverage on shares of Occidental Petroleum in a research report on Thursday, September 3rd. They set a “buy” rating and a $73.00 price target on the stock. Wall Street Zen raised Occidental Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. BMO Capital Markets reiterated a “market perform” rating and issued a $68.00 price target on shares of Occidental Petroleum in a research note on Wednesday, October 14th. Stephens lifted their price target on Occidental Petroleum from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Finally, Piper Sandler began coverage on Occidental Petroleum in a research note on Tuesday, October 27th. They issued a “neutral” rating and a $69.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.88.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa.

Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods.

The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.