Occidental Petroleum (NYSE:OXY) Announces Earnings Results

Occidental Petroleum (NYSE:OXY) released its quarterly earnings data on Monday. The oil and gas producer reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.46, FiscalAI reports. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%.

Occidental Petroleum Stock Performance

Occidental Petroleum stock traded down $0.59 during midday trading on Monday, reaching $55.79. 10,903,287 shares of the company traded hands, compared to its average volume of 11,863,535. The firm has a market capitalization of $55.77 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.65 and a beta of 0.16. The business has a 50 day moving average of $60.05 and a two-hundred day moving average of $56.29. Occidental Petroleum has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 10th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 10th. Occidental Petroleum’s payout ratio is presently 17.34%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Morgan Stanley upped their price objective on Occidental Petroleum from $69.00 to $71.00 and gave the company an “equal weight” rating in a research report on Thursday, October 15th. Barclays lowered their price objective on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. UBS Group lifted their target price on Occidental Petroleum from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, October 14th. Finally, Wall Street Zen upgraded Occidental Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $67.88.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa.

Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods.

The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.