Analysts forecast that Occidental Petroleum Co. (NYSE:OXY) will announce earnings of $1.09 per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Occidental Petroleum’s earnings, with estimates ranging from $0.84 to $1.32. Occidental Petroleum reported earnings per share of $1.10 in the same quarter last year, which suggests a negative year-over-year growth rate of 0.9%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.

On average, analysts expect that Occidental Petroleum will report full year earnings of $3.86 per share for the current year, with EPS estimates ranging from $3.17 to $4.57. For the next fiscal year, analysts forecast that the company will report earnings of $3.65 per share, with EPS estimates ranging from $2.52 to $4.27. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis.

Several analysts recently commented on the company. ValuEngine cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Morgan Stanley set a $69.00 target price on Occidental Petroleum and gave the company a “buy” rating in a report on Wednesday, May 8th. Wolfe Research cut Occidental Petroleum from an “outperform” rating to a “peer perform” rating and reduced their target price for the company from $85.00 to $65.00 in a report on Monday, May 13th. Argus cut Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 target price on the stock. in a report on Thursday, May 16th. Finally, Citigroup cut Occidental Petroleum from a “buy” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $72.00 in a report on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $75.30.

In other news, SVP Marcia E. Backus bought 10,000 shares of the stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $48.09 per share, with a total value of $480,900.00. Following the completion of the transaction, the senior vice president now directly owns 101,248 shares of the company’s stock, valued at $4,869,016.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene L. Batchelder bought 9,100 shares of the stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $48.11 per share, for a total transaction of $437,801.00. Following the completion of the transaction, the director now directly owns 45,148 shares of the company’s stock, valued at $2,172,070.28. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 56,560 shares of company stock worth $2,722,400. Insiders own 0.15% of the company’s stock.

Several large investors have recently modified their holdings of the company. UBS Oconnor LLC bought a new stake in Occidental Petroleum during the fourth quarter worth $4,604,000. Providence Wealth Advisors LLC grew its holdings in Occidental Petroleum by 18.3% during the first quarter. Providence Wealth Advisors LLC now owns 11,584 shares of the oil and gas producer’s stock worth $774,000 after buying an additional 1,791 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Occidental Petroleum by 13.9% during the first quarter. Envestnet Asset Management Inc. now owns 1,027,862 shares of the oil and gas producer’s stock worth $68,044,000 after buying an additional 125,245 shares in the last quarter. Aspire Private Capital LLC bought a new stake in Occidental Petroleum during the fourth quarter worth $410,000. Finally, Principal Financial Group Inc. grew its holdings in Occidental Petroleum by 0.9% during the fourth quarter. Principal Financial Group Inc. now owns 2,359,564 shares of the oil and gas producer’s stock worth $144,829,000 after buying an additional 20,777 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

Shares of OXY stock opened at $49.05 on Friday. Occidental Petroleum has a one year low of $47.00 and a one year high of $86.60. The company has a market capitalization of $35.82 billion, a P/E ratio of 9.79, a P/E/G ratio of 2.46 and a beta of 0.86. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 6.36%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.

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

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