Capital One Financial Equities Analysts Reduce Earnings Estimates for Occidental Petroleum (OXY)

Occidental Petroleum (NYSE:OXY) – Stock analysts at Capital One Financial decreased their Q1 2018 EPS estimates for shares of Occidental Petroleum in a research report issued to clients and investors on Thursday, April 12th. Capital One Financial analyst R. Tullis now expects that the oil and gas producer will post earnings per share of $0.73 for the quarter, down from their previous forecast of $0.87. Capital One Financial also issued estimates for Occidental Petroleum’s Q2 2018 earnings at $0.76 EPS and FY2018 earnings at $2.97 EPS.

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Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. During the same quarter in the prior year, the company earned ($0.13) earnings per share.

Several other analysts have also recently issued reports on OXY. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Monday, April 9th. JPMorgan Chase reduced their price target on shares of Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, April 9th. BMO Capital Markets reissued a “hold” rating and set a $75.00 price target on shares of Occidental Petroleum in a research report on Tuesday, February 27th. UBS began coverage on shares of Occidental Petroleum in a research report on Wednesday, March 7th. They set a “neutral” rating and a $71.00 price target on the stock. Finally, Piper Jaffray raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $86.00 price target on the stock in a research report on Sunday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $74.06.

Shares of OXY opened at $73.63 on Monday. The stock has a market cap of $54,922.37, a PE ratio of 82.73, a price-to-earnings-growth ratio of 4.09 and a beta of 0.65. Occidental Petroleum has a 1 year low of $57.20 and a 1 year high of $78.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.12.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.18%. Occidental Petroleum’s payout ratio is 346.07%.

Several hedge funds have recently added to or reduced their stakes in the stock. Green Square Capital LLC increased its stake in shares of Occidental Petroleum by 208.2% during the fourth quarter. Green Square Capital LLC now owns 12,196 shares of the oil and gas producer’s stock worth $908,000 after buying an additional 8,239 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Occidental Petroleum by 23.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 34,897 shares of the oil and gas producer’s stock valued at $2,571,000 after purchasing an additional 6,550 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Occidental Petroleum by 14.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 76,642 shares of the oil and gas producer’s stock valued at $5,645,000 after purchasing an additional 9,916 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Occidental Petroleum by 24,838.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 4,489 shares of the oil and gas producer’s stock valued at $255,000 after purchasing an additional 4,471 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Occidental Petroleum by 5.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 317,391 shares of the oil and gas producer’s stock valued at $23,377,000 after purchasing an additional 15,154 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s stock.

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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.

Earnings History and Estimates for Occidental Petroleum (NYSE:OXY)

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