Occidental Petroleum Co. (NYSE:OXY) – Capital One Financial raised their FY2018 earnings per share (EPS) estimates for Occidental Petroleum in a research note issued to investors on Tuesday, December 4th. Capital One Financial analyst R. Tullis now anticipates that the oil and gas producer will post earnings per share of $5.21 for the year, up from their prior forecast of $4.65. Capital One Financial also issued estimates for Occidental Petroleum’s Q4 2018 earnings at $1.41 EPS, Q1 2019 earnings at $1.03 EPS, Q2 2019 earnings at $1.07 EPS, Q3 2019 earnings at $1.16 EPS, Q4 2019 earnings at $1.13 EPS and FY2019 earnings at $4.38 EPS.

OXY has been the subject of several other research reports. Evercore ISI raised shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Wednesday, November 7th. Morgan Stanley reduced their target price on shares of Occidental Petroleum from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, November 5th. National Alliance Securities raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. ValuEngine lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Finally, Barclays initiated coverage on shares of Occidental Petroleum in a research report on Monday, November 12th. They set an “overweight” rating and a $84.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Occidental Petroleum currently has a consensus rating of “Buy” and an average target price of $88.00.

Shares of NYSE OXY opened at $67.52 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $52.60 billion, a price-to-earnings ratio of 75.87, a PEG ratio of 2.25 and a beta of 0.82. Occidental Petroleum has a 1 year low of $62.47 and a 1 year high of $87.67.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share.

Several large investors have recently modified their holdings of the company. Captrust Financial Advisors increased its holdings in Occidental Petroleum by 313.8% during the second quarter. Captrust Financial Advisors now owns 14,116 shares of the oil and gas producer’s stock valued at $1,192,000 after buying an additional 10,705 shares during the period. Highstreet Asset Management Inc. purchased a new position in Occidental Petroleum during the second quarter valued at approximately $663,000. Dynamic Technology Lab Private Ltd increased its holdings in Occidental Petroleum by 70.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 33,464 shares of the oil and gas producer’s stock valued at $2,800,000 after buying an additional 13,864 shares during the period. Garnet Equity Capital Holdings Inc. purchased a new position in Occidental Petroleum during the third quarter valued at approximately $5,752,000. Finally, Lido Advisors LLC purchased a new position in Occidental Petroleum during the second quarter valued at approximately $201,000. 81.63% of the stock is currently owned by institutional investors and hedge funds.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Friday, December 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 350.56%.

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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Earnings History and Estimates for Occidental Petroleum (NYSE:OXY)

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