Occidental Petroleum (OXY) Set to Announce Earnings on Tuesday

Occidental Petroleum (NYSE:OXY) will release its earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the firm posted $1.61 earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. On average, analysts expect Occidental Petroleum to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Occidental Petroleum Stock Down 0.4 %

OXY opened at $64.39 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The stock’s fifty day simple moving average is $64.80 and its 200 day simple moving average is $61.35. Occidental Petroleum has a 1-year low of $55.12 and a 1-year high of $71.18. The stock has a market cap of $57.08 billion, a PE ratio of 16.47 and a beta of 1.64.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is 22.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Mizuho raised their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their price target on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. HSBC began coverage on Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price objective on the stock. Barclays assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target on the stock. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $71.94.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.