Occidental Petroleum Co. (NYSE:OXY) – Research analysts at Mitsubishi UFJ Financial Group increased their Q1 2019 earnings per share estimates for shares of Occidental Petroleum in a research report issued to clients and investors on Monday, October 15th, Zacks Investment Research reports. Mitsubishi UFJ Financial Group analyst M. Mcallister now expects that the oil and gas producer will post earnings of $1.72 per share for the quarter, up from their previous forecast of $1.71. Mitsubishi UFJ Financial Group has a “Neutral” rating and a $92.00 price target on the stock. Mitsubishi UFJ Financial Group also issued estimates for Occidental Petroleum’s Q2 2019 earnings at $1.69 EPS and Q3 2019 earnings at $1.59 EPS.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.26. The business had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $4.60 billion. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. The company’s revenue was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS.
Shares of Occidental Petroleum stock traded up $0.92 during trading on Wednesday, reaching $73.55. The company’s stock had a trading volume of 6,984,136 shares, compared to its average volume of 6,267,685. The stock has a market capitalization of $55.66 billion, a price-to-earnings ratio of 82.64, a PEG ratio of 2.01 and a beta of 0.80. Occidental Petroleum has a fifty-two week low of $62.47 and a fifty-two week high of $87.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.33 and a quick ratio of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $3.12 annualized dividend and a yield of 4.24%. Occidental Petroleum’s dividend payout ratio is currently 350.56%.
In other news, Director William R. Klesse acquired 5,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $78.55 per share, with a total value of $392,750.00. Following the purchase, the director now owns 77,963 shares of the company’s stock, valued at approximately $6,123,993.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Occidental Petroleum by 170.8% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,327 shares of the oil and gas producer’s stock worth $109,000 after purchasing an additional 837 shares in the last quarter. Westbourne Investment Advisors Inc. purchased a new stake in shares of Occidental Petroleum during the 3rd quarter worth $138,000. Kaizen Advisory LLC boosted its position in shares of Occidental Petroleum by 142.0% during the 2nd quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock worth $150,000 after purchasing an additional 1,052 shares in the last quarter. GeoSphere Capital Management LLC purchased a new stake in shares of Occidental Petroleum during the 2nd quarter worth $151,000. Finally, Spectrum Management Group Inc. purchased a new stake in shares of Occidental Petroleum during the 2nd quarter worth $160,000. 80.95% of the stock is currently owned by institutional investors.
Occidental Petroleum Company Profile
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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