Occidental Petroleum (NYSE:OXY) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Occidental Petroleum (NYSE:OXYGet Free Report) announced its quarterly earnings data on Wednesday. The oil and gas producer reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02), Zacks reports. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. During the same quarter last year, the firm posted $0.80 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis.

Occidental Petroleum Trading Up 2.7%

NYSE:OXY traded up $1.25 during trading hours on Wednesday, reaching $47.19. 14,009,023 shares of the stock were exchanged, compared to its average volume of 11,690,794. The business has a 50-day moving average of $42.94 and a two-hundred day moving average of $43.49. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Occidental Petroleum has a twelve month low of $34.78 and a twelve month high of $52.58. The company has a market capitalization of $46.49 billion, a price-to-earnings ratio of 34.70 and a beta of 0.41.

Occidental Petroleum News Roundup

Here are the key news stories impacting Occidental Petroleum this week:

Insider Transactions at Occidental Petroleum

In related news, Director William R. Klesse purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was bought at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the acquisition, the director directly owned 218,913 shares in the company, valued at $8,533,228.74. The trade was a 2.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BTG Pactual Asset Management US LLC lifted its stake in Occidental Petroleum by 22.8% in the 3rd quarter. BTG Pactual Asset Management US LLC now owns 7,530 shares of the oil and gas producer’s stock worth $356,000 after purchasing an additional 1,400 shares in the last quarter. Sprott Inc. purchased a new position in Occidental Petroleum in the fourth quarter worth about $373,000. Wealthspire Advisors LLC lifted its holdings in shares of Occidental Petroleum by 34.5% during the 4th quarter. Wealthspire Advisors LLC now owns 10,531 shares of the oil and gas producer’s stock valued at $433,000 after buying an additional 2,704 shares during the period. EFG International AG purchased a new position in Occidental Petroleum during the fourth quarter valued at $432,000. Finally, One68 Global Capital LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth about $329,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wolfe Research lowered their target price on Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. Bank of America increased their price objective on shares of Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Mizuho increased their price target on shares of Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. BMO Capital Markets dropped their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Monday, January 12th. Finally, Susquehanna decreased their price target on Occidental Petroleum from $55.00 to $51.00 and set a “positive” rating for the company in a research note on Monday, January 26th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.48.

Check Out Our Latest Research Report on Occidental Petroleum

Occidental Petroleum Company Profile

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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.

Further Reading

Earnings History for Occidental Petroleum (NYSE:OXY)

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