Occidental Petroleum Co. (NYSE:OXY) Expected to Announce Earnings of $0.18 Per Share

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Equities analysts expect that Occidental Petroleum Co. (NYSE:OXY) will report earnings of $0.18 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Occidental Petroleum’s earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at $0.42. Occidental Petroleum reported earnings per share of $1.22 during the same quarter last year, which would indicate a negative year-over-year growth rate of 85.2%. The company is expected to announce its next earnings report on Tuesday, February 11th.

On average, analysts expect that Occidental Petroleum will report full year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from ($0.38) to $2.34. For the next fiscal year, analysts anticipate that the company will report earnings of $1.37 per share, with EPS estimates ranging from $0.22 to $2.93. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.30). Occidental Petroleum had a return on equity of 9.98% and a net margin of 6.34%. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same period last year, the company earned $1.77 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis.

Several research analysts have issued reports on OXY shares. Goldman Sachs Group started coverage on shares of Occidental Petroleum in a report on Tuesday, August 27th. They set a “neutral” rating and a $52.50 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Occidental Petroleum in a research report on Tuesday, August 13th. They set an “underweight” rating and a $50.00 target price on the stock. Raymond James reduced their price target on shares of Occidental Petroleum from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Thursday, October 17th. Piper Jaffray Companies set a $59.00 price objective on shares of Occidental Petroleum and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Barclays began coverage on shares of Occidental Petroleum in a report on Monday, August 19th. They set an “equal weight” rating and a $61.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $58.03.

Occidental Petroleum stock opened at $39.01 on Monday. The firm has a market capitalization of $34.85 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 4.33 and a beta of 0.85. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.33 and a quick ratio of 1.23. Occidental Petroleum has a 1-year low of $37.54 and a 1-year high of $68.83. The company’s 50-day moving average is $40.09 and its 200 day moving average is $45.73.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.10%. The ex-dividend date is Monday, December 9th. Occidental Petroleum’s payout ratio is currently 63.07%.

In other Occidental Petroleum news, Director William R. Klesse acquired 12,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $39.31 per share, for a total transaction of $471,720.00. Following the acquisition, the director now owns 113,203 shares in the company, valued at approximately $4,450,009.93. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William R. Klesse acquired 5,000 shares of the stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $45.54 per share, with a total value of $227,700.00. Following the transaction, the director now directly owns 101,203 shares in the company, valued at $4,608,784.62. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 28,000 shares of company stock valued at $1,122,760. 0.15% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Voya Investment Management LLC lifted its holdings in shares of Occidental Petroleum by 4.3% during the third quarter. Voya Investment Management LLC now owns 577,517 shares of the oil and gas producer’s stock worth $25,682,000 after purchasing an additional 24,012 shares during the period. Daiwa Securities Group Inc. raised its position in Occidental Petroleum by 25.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 38,548 shares of the oil and gas producer’s stock worth $1,714,000 after buying an additional 7,840 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Occidental Petroleum by 238.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,150,909 shares of the oil and gas producer’s stock worth $57,868,000 after buying an additional 810,550 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its stake in Occidental Petroleum by 19.8% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 133,008 shares of the oil and gas producer’s stock valued at $5,915,000 after acquiring an additional 21,947 shares during the period. Finally, Covenant Multifamily Offices LLC acquired a new stake in Occidental Petroleum during the 2nd quarter valued at approximately $1,667,000. 78.55% of the stock is currently owned by institutional investors.

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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