Occidental Petroleum Co. (NYSE:OXY) – Investment analysts at Capital One Financial lowered their FY2019 earnings estimates for Occidental Petroleum in a research note issued on Wednesday, December 18th. Capital One Financial analyst R. Tullis now anticipates that the oil and gas producer will post earnings of $1.77 per share for the year, down from their previous estimate of $2.14. Capital One Financial also issued estimates for Occidental Petroleum’s Q4 2019 earnings at ($0.15) EPS and FY2020 earnings at $1.87 EPS.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.30). Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period in the prior year, the business earned $1.77 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis.
A number of other brokerages have also weighed in on OXY. ValuEngine upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Tudor Pickering downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating and set a $36.00 price target on the stock. in a research report on Monday, November 11th. UBS Group reduced their price target on shares of Occidental Petroleum from $58.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Raymond James decreased their price objective on shares of Occidental Petroleum from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 17th. Finally, Bank of America set a $80.00 price objective on shares of Occidental Petroleum and gave the company a “buy” rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $57.17.
Occidental Petroleum stock opened at $39.89 on Monday. The business’s fifty day moving average is $38.91 and its two-hundred day moving average is $44.54. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.23 and a current ratio of 1.33. The firm has a market cap of $34.85 billion, a P/E ratio of 7.96, a P/E/G ratio of 4.42 and a beta of 0.85. Occidental Petroleum has a 52 week low of $37.25 and a 52 week high of $68.83.
A number of hedge funds have recently modified their holdings of the business. Voya Investment Management LLC increased its position in shares of Occidental Petroleum by 4.3% in the third quarter. Voya Investment Management LLC now owns 577,517 shares of the oil and gas producer’s stock valued at $25,682,000 after acquiring an additional 24,012 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Occidental Petroleum by 25.5% during the third quarter. Daiwa Securities Group Inc. now owns 38,548 shares of the oil and gas producer’s stock valued at $1,714,000 after purchasing an additional 7,840 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Occidental Petroleum by 238.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,150,909 shares of the oil and gas producer’s stock valued at $57,868,000 after purchasing an additional 810,550 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake in Occidental Petroleum by 19.8% in the third quarter. Metropolitan Life Insurance Co NY now owns 133,008 shares of the oil and gas producer’s stock valued at $5,915,000 after purchasing an additional 21,947 shares in the last quarter. Finally, Alexandria Capital LLC grew its stake in Occidental Petroleum by 7.5% in the second quarter. Alexandria Capital LLC now owns 43,823 shares of the oil and gas producer’s stock valued at $2,203,000 after purchasing an additional 3,071 shares in the last quarter. Hedge funds and other institutional investors own 78.50% of the company’s stock.
In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $45.54 per share, with a total value of $227,700.00. Following the completion of the transaction, the director now directly owns 101,203 shares in the company, valued at approximately $4,608,784.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack B. Moore bought 12,900 shares of Occidental Petroleum stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average price of $38.61 per share, with a total value of $498,069.00. Following the acquisition, the director now directly owns 129,203 shares of the company’s stock, valued at approximately $4,988,527.83. The disclosure for this purchase can be found here. In the last three months, insiders purchased 40,900 shares of company stock worth $1,620,829. 0.15% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, December 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.92%. Occidental Petroleum’s payout ratio is presently 63.07%.
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.