Capital One Financial Equities Analysts Decrease Earnings Estimates for Occidental Petroleum Co. (NYSE:OXY)

Occidental Petroleum Co. (NYSE:OXY) – Research analysts at Capital One Financial lowered their Q3 2024 EPS estimates for shares of Occidental Petroleum in a report released on Tuesday, September 17th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $0.70 for the quarter, down from their previous estimate of $1.02. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.71 per share. Capital One Financial also issued estimates for Occidental Petroleum’s Q4 2024 earnings at $0.58 EPS, FY2024 earnings at $2.95 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.37 EPS, FY2025 earnings at $1.52 EPS and FY2026 earnings at $1.67 EPS.

OXY has been the subject of several other reports. Wolfe Research assumed coverage on Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price for the company. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday. Scotiabank cut their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. UBS Group decreased their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $71.60.

Occidental Petroleum Stock Down 0.7 %

Shares of Occidental Petroleum stock opened at $51.64 on Friday. Occidental Petroleum has a 12 month low of $49.90 and a 12 month high of $71.18. The business has a fifty day simple moving average of $56.91 and a 200 day simple moving average of $61.26. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The stock has a market cap of $45.79 billion, a PE ratio of 14.11 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The firm had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS.

Occidental Petroleum Announces Dividend

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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Berkshire Hathaway Inc lifted its stake in Occidental Petroleum by 8.7% in the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares during the last quarter. Himalaya Capital Management LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at about $92,433,000. Clean Energy Transition LLP bought a new position in Occidental Petroleum during the first quarter worth about $67,601,000. Sarasin & Partners LLP acquired a new position in Occidental Petroleum during the second quarter worth approximately $63,880,000. Finally, Scharf Investments LLC bought a new stake in Occidental Petroleum in the second quarter valued at approximately $42,744,000. Institutional investors own 88.70% of the company’s stock.

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, 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.