Occidental Petroleum Co. (NYSE:OXY) – Investment analysts at Piper Jaffray Companies cut their Q4 2018 EPS estimates for Occidental Petroleum in a report issued on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now forecasts that the oil and gas producer will post earnings per share of $1.12 for the quarter, down from their prior estimate of $1.37. Piper Jaffray Companies currently has a “Overweight” rating on the stock. Piper Jaffray Companies also issued estimates for Occidental Petroleum’s Q1 2019 earnings at $0.64 EPS, Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.59 EPS, FY2019 earnings at $2.48 EPS, Q1 2020 earnings at $0.59 EPS, Q2 2020 earnings at $0.60 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.59 EPS and FY2020 earnings at $2.37 EPS.

Occidental Petroleum (NYSE:OXY) last posted 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 firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The business’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS.

A number of other equities research analysts have also recently issued reports on the company. Morgan Stanley set a $101.00 target price on Occidental Petroleum and gave the stock a “buy” rating in a research report on Friday, October 12th. Raymond James upgraded Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. Atlantic Securities upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Friday, December 21st. Capital One Financial cut Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Finally, KeyCorp initiated coverage on Occidental Petroleum in a report on Thursday, December 20th. They set an “overweight” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Occidental Petroleum has an average rating of “Buy” and a consensus target price of $87.16.

Shares of NYSE OXY opened at $66.22 on Friday. The company has a market capitalization of $49.67 billion, a P/E ratio of 74.40, a PEG ratio of 2.37 and a beta of 0.88. Occidental Petroleum has a 52 week low of $56.83 and a 52 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 1.21.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be given a $0.78 dividend. The ex-dividend date is Friday, December 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.71%. Occidental Petroleum’s dividend payout ratio is currently 350.56%.

A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Griffin Asset Management Inc. boosted its holdings in shares of Occidental Petroleum by 2.3% during the 3rd quarter. Griffin Asset Management Inc. now owns 8,915 shares of the oil and gas producer’s stock valued at $733,000 after purchasing an additional 200 shares during the last quarter. Hollencrest Capital Management boosted its stake in Occidental Petroleum by 4.2% in the fourth quarter. Hollencrest Capital Management now owns 7,812 shares of the oil and gas producer’s stock valued at $480,000 after acquiring an additional 312 shares in the last quarter. Grassi Investment Management lifted its stake in shares of Occidental Petroleum by 3.2% during the fourth quarter. Grassi Investment Management now owns 14,640 shares of the oil and gas producer’s stock worth $899,000 after buying an additional 450 shares during the period. Moody National Bank Trust Division lifted its stake in shares of Occidental Petroleum by 67.9% during the fourth quarter. Moody National Bank Trust Division now owns 1,301 shares of the oil and gas producer’s stock worth $80,000 after buying an additional 526 shares during the period. Finally, United Capital Management of KS Inc. raised its holdings in shares of Occidental Petroleum by 19.7% during the fourth quarter. United Capital Management of KS Inc. now owns 3,630 shares of the oil and gas producer’s stock worth $223,000 after purchasing an additional 597 shares during the last quarter. Institutional investors and hedge funds own 81.36% of the company’s stock.

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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