Occidental Petroleum (OXY) Scheduled to Post Quarterly Earnings on Tuesday

Occidental Petroleum (NYSE:OXY) is set to release its earnings data after the market closes on Tuesday, May 7th. Analysts expect Occidental Petroleum to post earnings of $0.62 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 earnings per share. On average, analysts expect Occidental Petroleum to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Occidental Petroleum Price Performance

OXY stock opened at $64.39 on Friday. The stock has a market cap of $57.08 billion, a price-to-earnings ratio of 16.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The company has a 50 day simple moving average of $64.80 and a 200 day simple moving average of $61.42. Occidental Petroleum has a 1 year low of $55.12 and a 1 year high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Analyst Ratings Changes

OXY has been the subject of several recent research reports. Susquehanna upped their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. HSBC assumed coverage on Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Wells Fargo & Company upped their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $71.94.

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.