Q1 2024 EPS Estimates for Occidental Petroleum Co. (NYSE:OXY) Decreased by Analyst

Occidental Petroleum Co. (NYSE:OXY) – Equities research analysts at Zacks Research reduced their Q1 2024 earnings per share estimates for Occidental Petroleum in a report issued on Monday, April 29th. Zacks Research analyst J. Saha now forecasts that the oil and gas producer will earn $0.61 per share for the quarter, down from their prior estimate of $0.76. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.81 per share. Zacks Research also issued estimates for Occidental Petroleum’s Q2 2024 earnings at $0.84 EPS, FY2024 earnings at $3.40 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $1.15 EPS, Q3 2025 earnings at $0.96 EPS, Q4 2025 earnings at $0.88 EPS, FY2025 earnings at $3.91 EPS, Q1 2026 earnings at $1.20 EPS and FY2026 earnings at $4.88 EPS.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. Occidental Petroleum’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 EPS.

Several other equities analysts have also recently weighed in on the company. Stephens reiterated an “overweight” rating and set a $74.00 price objective on shares of Occidental Petroleum in a report on Thursday, February 15th. Wells Fargo & Company upped their price target on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Truist Financial raised their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Susquehanna upped their target price on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, Mizuho lifted their price target on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Trading Down 0.4 %

OXY opened at $64.39 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. Occidental Petroleum has a twelve month low of $55.12 and a twelve month high of $71.18. The firm’s fifty day moving average is $64.72 and its two-hundred day moving average is $61.43. The firm has a market cap of $57.08 billion, a PE ratio of 16.47 and a beta of 1.64.

Institutional Trading of Occidental Petroleum

Institutional investors have recently bought and sold shares of the business. Investment Research & Advisory Group Inc. raised its stake in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $26,000. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $27,000. TLW Wealth Management LLC bought a new position in Occidental Petroleum in the fourth quarter valued at approximately $28,000. Finally, Grove Bank & Trust lifted its stake in Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Monday, June 10th. Occidental Petroleum’s dividend payout ratio is 22.51%.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.