Wall Street analysts expect Occidental Petroleum Corporation (NYSE:OXY) to post sales of $3.20 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Occidental Petroleum Corporation’s earnings. The highest sales estimate is $3.30 billion and the lowest is $3.05 billion. Occidental Petroleum Corporation reported sales of $2.73 billion in the same quarter last year, which would suggest a positive year over year growth rate of 17.2%. The company is scheduled to report its next earnings results on Tuesday, November 7th.

On average, analysts expect that Occidental Petroleum Corporation will report full-year sales of $3.20 billion for the current year, with estimates ranging from $12.31 billion to $13.55 billion. For the next financial year, analysts anticipate that the firm will report sales of $14.06 billion per share, with estimates ranging from $13.34 billion to $16.05 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Occidental Petroleum Corporation.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.18) earnings per share.

A number of equities analysts recently commented on the company. Cowen and Company reaffirmed a “buy” rating and issued a $75.00 target price on shares of Occidental Petroleum Corporation in a report on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $70.00 target price on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Credit Suisse Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, May 19th. Zacks Investment Research cut Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Wolfe Research raised Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.14.

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Shares of Occidental Petroleum Corporation (NYSE OXY) traded up 0.90% during trading on Monday, hitting $59.70. The stock had a trading volume of 3,724,005 shares. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48. The firm has a market capitalization of $45.65 billion, a P/E ratio of 420.42 and a beta of 0.65. The stock’s 50-day moving average price is $60.41 and its 200 day moving average price is $61.97.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be given a dividend of $0.77 per share. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.16%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is presently 2,338.46%.

In related news, Director William R. Klesse purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was bought at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the transaction, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cedric W. Burgher purchased 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was bought at an average price of $59.85 per share, with a total value of $101,745.00. Following the transaction, the chief financial officer now owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. Company insiders own 0.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glassman Wealth Services raised its position in Occidental Petroleum Corporation by 0.3% in the second quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock valued at $148,000 after buying an additional 8 shares in the last quarter. Partnervest Advisory Services LLC raised its position in Occidental Petroleum Corporation by 0.5% in the first quarter. Partnervest Advisory Services LLC now owns 3,301 shares of the oil and gas producer’s stock valued at $209,000 after buying an additional 16 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Occidental Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,948 shares of the oil and gas producer’s stock valued at $187,000 after buying an additional 20 shares in the last quarter. Concert Wealth Management Inc. raised its position in Occidental Petroleum Corporation by 0.3% in the first quarter. Concert Wealth Management Inc. now owns 8,383 shares of the oil and gas producer’s stock valued at $595,000 after buying an additional 23 shares in the last quarter. Finally, BerganKDV Wealth Management LLC raised its position in Occidental Petroleum Corporation by 0.5% in the second quarter. BerganKDV Wealth Management LLC now owns 4,939 shares of the oil and gas producer’s stock valued at $296,000 after buying an additional 23 shares in the last quarter. Institutional investors own 80.85% of the company’s stock.

Occidental Petroleum Corporation Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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 Corporation (NYSE:OXY)

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