Brokerages Expect Occidental Petroleum Co. (OXY) Will Announce Earnings of $0.33 Per Share
Analysts expect Occidental Petroleum Co. (NYSE:OXY) to announce earnings per share (EPS) of $0.33 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Occidental Petroleum’s earnings, with estimates ranging from $0.10 to $0.49. Occidental Petroleum posted earnings per share of ($0.13) during the same quarter last year, which would indicate a positive year over year growth rate of 353.8%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, February 13th.
On average, analysts expect that Occidental Petroleum will report full year earnings of $0.80 per share for the current fiscal year, with EPS estimates ranging from $0.56 to $0.98. For the next fiscal year, analysts forecast that the firm will report earnings of $1.87 per share, with EPS estimates ranging from $0.57 to $3.16. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Occidental Petroleum.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) EPS.
OXY has been the topic of several recent research reports. Cowen restated a “buy” rating and set a $80.00 target price on shares of Occidental Petroleum in a report on Thursday, September 28th. Jefferies Group restated a “hold” rating and set a $58.00 target price on shares of Occidental Petroleum in a report on Friday, October 6th. BMO Capital Markets set a $60.00 target price on Occidental Petroleum and gave the stock a “hold” rating in a report on Tuesday, October 10th. Barclays boosted their target price on Occidental Petroleum from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Wednesday, October 11th. Finally, Bank of America boosted their target price on Occidental Petroleum from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $67.87.
Shares of Occidental Petroleum (NYSE OXY) traded up $0.16 during trading on Friday, hitting $75.55. The stock had a trading volume of 3,199,387 shares, compared to its average volume of 3,690,000. The firm has a market cap of $57,810.00, a PE ratio of 106.41, a P/E/G ratio of 6.39 and a beta of 0.65. Occidental Petroleum has a fifty-two week low of $57.20 and a fifty-two week high of $76.79. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barometer Capital Management Inc. purchased a new stake in Occidental Petroleum in the third quarter valued at approximately $12,213,000. California Public Employees Retirement System raised its position in Occidental Petroleum by 3.3% in the third quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock valued at $131,456,000 after purchasing an additional 64,533 shares during the period. Swiss National Bank raised its position in Occidental Petroleum by 0.9% in the third quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock valued at $185,698,000 after purchasing an additional 25,100 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Occidental Petroleum in the third quarter valued at approximately $3,792,000. Finally, Cubist Systematic Strategies LLC raised its position in Occidental Petroleum by 178.7% in the second quarter. Cubist Systematic Strategies LLC now owns 58,489 shares of the oil and gas producer’s stock valued at $3,502,000 after purchasing an additional 37,499 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.
About Occidental Petroleum
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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