FY2018 EPS Estimates for Occidental Petroleum Co. (OXY) Lifted by Capital One Financial
Occidental Petroleum Co. (NYSE:OXY) – Capital One Financial upped their FY2018 earnings per share (EPS) estimates for Occidental Petroleum in a research report issued on Tuesday, December 4th. Capital One Financial analyst R. Tullis now expects that the oil and gas producer will earn $5.21 per share for the year, up from their previous forecast of $4.65. Capital One Financial also issued estimates for Occidental Petroleum’s Q4 2018 earnings at $1.41 EPS, Q1 2019 earnings at $1.03 EPS, Q2 2019 earnings at $1.07 EPS, Q3 2019 earnings at $1.16 EPS, Q4 2019 earnings at $1.13 EPS and FY2019 earnings at $4.38 EPS.
A number of other analysts have also commented on the company. Piper Jaffray Companies started coverage on Occidental Petroleum in a report on Friday, September 28th. They issued an “overweight” rating on the stock. Morgan Stanley set a $101.00 price target on Occidental Petroleum and gave the company a “buy” rating in a report on Friday, October 12th. Raymond James upgraded Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. cut their price target on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, August 10th. Finally, Mitsubishi UFJ Financial Group cut their price target on Occidental Petroleum to $92.00 and set a “neutral” rating on the stock in a report on Tuesday, October 16th. Nine equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Occidental Petroleum presently has an average rating of “Buy” and an average price target of $88.00.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. The company had revenue of $6.18 billion for the quarter, compared to analyst estimates of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The company’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 10th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, December 7th. Occidental Petroleum’s dividend payout ratio is currently 350.56%.
Several large investors have recently added to or reduced their stakes in OXY. Standard Life Aberdeen plc increased its position in shares of Occidental Petroleum by 1,541.0% in the second quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock valued at $634,716,000 after acquiring an additional 7,122,373 shares during the last quarter. FMR LLC increased its position in shares of Occidental Petroleum by 232.5% in the second quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after acquiring an additional 4,230,065 shares during the last quarter. Dodge & Cox increased its position in shares of Occidental Petroleum by 58.7% in the third quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock valued at $812,488,000 after acquiring an additional 3,656,670 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $241,052,000. Finally, Capital World Investors increased its position in Occidental Petroleum by 9.6% during the third quarter. Capital World Investors now owns 23,423,802 shares of the oil and gas producer’s stock worth $1,924,734,000 after buying an additional 2,056,863 shares during the last quarter. 81.63% of the stock is currently owned by institutional investors and hedge funds.
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.
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