Occidental Petroleum (NYSE:OXY) Releases Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Occidental Petroleum (NYSE:OXY) announced its quarterly earnings data on Wednesday. The oil and gas producer reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.16), Zacks reports. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded up $1.25 during midday trading on Wednesday, reaching $47.19. 13,301,615 shares of the company’s stock traded hands, compared to its average volume of 11,660,312. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. Occidental Petroleum has a one year low of $34.78 and a one year high of $52.58. The company has a market cap of $46.49 billion, a price-to-earnings ratio of 34.70 and a beta of 0.41. The stock has a 50 day moving average of $42.94 and a 200 day moving average of $43.49.

Insider Activity

In related news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the transaction, the director owned 218,913 shares in the company, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after buying an additional 1,883,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Occidental Petroleum by 54.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after purchasing an additional 1,393,638 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Occidental Petroleum by 1,029.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after purchasing an additional 1,361,541 shares during the period. AQR Capital Management LLC increased its position in shares of Occidental Petroleum by 134.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock valued at $85,798,000 after purchasing an additional 1,040,941 shares during the last quarter. Finally, State Street Corp raised its holdings in Occidental Petroleum by 2.1% during the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock valued at $1,635,263,000 after buying an additional 828,848 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

OXY has been the topic of several research analyst reports. TD Cowen raised Occidental Petroleum to a “hold” rating in a research note on Monday, February 9th. Raymond James Financial reissued an “outperform” rating and set a $50.00 price objective on shares of Occidental Petroleum in a research report on Tuesday, November 25th. The Goldman Sachs Group reduced their price target on shares of Occidental Petroleum from $43.00 to $41.00 and set a “sell” rating on the stock in a research report on Thursday, January 22nd. BMO Capital Markets cut their price objective on Occidental Petroleum from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Monday, January 12th. Finally, Wolfe Research decreased their target price on Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $47.48.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.