Occidental Petroleum Co. (NYSE:OXY) – Investment analysts at Capital One Financial reduced their FY2020 earnings per share estimates for Occidental Petroleum in a report released on Thursday, August 1st, according to Zacks Investment Research. Capital One Financial analyst R. Tullis now anticipates that the oil and gas producer will earn $3.71 per share for the year, down from their prior estimate of $3.74.
A number of other brokerages have also recently issued reports on OXY. ValuEngine cut shares of Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 30th. Bank of America reissued a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum in a research note on Monday. Raymond James set a $80.00 target price on shares of Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, May 23rd. Piper Jaffray Companies set a $59.00 target price on shares of Occidental Petroleum and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, TheStreet lowered shares of Occidental Petroleum from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company. Occidental Petroleum has an average rating of “Hold” and a consensus price target of $66.48.
NYSE:OXY traded up $0.22 during mid-day trading on Monday, reaching $42.35. The stock had a trading volume of 7,321,750 shares, compared to its average volume of 8,234,603. The stock has a 50-day simple moving average of $48.58 and a two-hundred day simple moving average of $56.59. The stock has a market capitalization of $31.71 billion, a PE ratio of 8.45, a P/E/G ratio of 2.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.20 and a quick ratio of 1.00. Occidental Petroleum has a 12 month low of $41.83 and a 12 month high of $83.35.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the second quarter worth about $30,000. Global Trust Asset Management LLC increased its position in shares of Occidental Petroleum by 2,725.6% during the second quarter. Global Trust Asset Management LLC now owns 12,122 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 11,693 shares in the last quarter. Harvest Group Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the first quarter worth about $34,000. TRUE Private Wealth Advisors bought a new stake in shares of Occidental Petroleum during the second quarter worth about $36,000. Finally, Kavar Capital Partners LLC bought a new stake in shares of Occidental Petroleum during the second quarter worth about $39,000. 80.49% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Marcia E. Backus purchased 10,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was purchased at an average cost of $48.09 per share, with a total value of $480,900.00. Following the completion of the purchase, the senior vice president now owns 101,248 shares in the company, valued at approximately $4,869,016.32. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bob Shearer purchased 15,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $50.22 per share, with a total value of $753,300.00. Following the completion of the purchase, the director now owns 19,218 shares of the company’s stock, valued at approximately $965,127.96. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 114,160 shares of company stock worth $5,459,226. 0.15% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a $0.79 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.16 annualized dividend and a yield of 7.46%. Occidental Petroleum’s payout ratio is presently 62.28%.
Occidental Petroleum Company Profile
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.