Zacks Research Issues Positive Outlook for OXY Earnings

Occidental Petroleum Corporation (NYSE:OXY) – Equities researchers at Zacks Research raised their Q1 2027 earnings per share (EPS) estimates for Occidental Petroleum in a note issued to investors on Wednesday, December 17th. Zacks Research analyst Team now anticipates that the oil and gas producer will earn $0.49 per share for the quarter, up from their previous estimate of $0.48. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.58 per share.

Several other analysts have also issued reports on OXY. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Raymond James Financial restated an “outperform” rating and issued a $50.00 price objective on shares of Occidental Petroleum in a research note on Tuesday, November 25th. HSBC decreased their price objective on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Morgan Stanley cut their price target on shares of Occidental Petroleum from $52.00 to $51.00 and set an “equal weight” rating for the company in a report on Thursday, November 20th. Finally, Roth Capital raised their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.95.

Occidental Petroleum Price Performance

OXY stock opened at $40.09 on Monday. The company has a market capitalization of $39.49 billion, a P/E ratio of 29.47 and a beta of 0.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. Occidental Petroleum has a 52-week low of $34.78 and a 52-week high of $53.20. The business has a 50-day simple moving average of $41.32 and a two-hundred day simple moving average of $43.67.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a yield of 2.4%. Occidental Petroleum’s dividend payout ratio is 70.59%.

Insider Buying and Selling

In other news, Director William R. Klesse bought 5,000 shares of Occidental Petroleum stock in a transaction on Tuesday, December 16th. The shares were purchased at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the acquisition, the director owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. The trade was a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Occidental Petroleum by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock valued at $3,718,054,000 after acquiring an additional 8,273,030 shares during the period. Geode Capital Management LLC boosted its stake in shares of Occidental Petroleum by 22.0% during the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after acquiring an additional 3,267,269 shares in the last quarter. Wellington Management Group LLP grew its stake in Occidental Petroleum by 1,029.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after acquiring an additional 1,361,541 shares during the period. AQR Capital Management LLC boosted its holdings in Occidental Petroleum by 134.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock worth $85,798,000 after buying an additional 1,040,941 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Occidental Petroleum by 11.5% in the third quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer’s stock valued at $412,045,000 after buying an additional 900,677 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.