Brokers

Brokers Set Expectations for Occidental Petroleum Co.’s FY2022 Earnings (NYSE:OXY)


Occidental Petroleum Co. (NYSE:OXYGet Rating) – Investment analysts at Capital One Financial upped their FY2022 EPS estimates for Occidental Petroleum in a research note issued to investors on Thursday, May 12th. Capital One Financial analyst R. Tullis now expects that the oil and gas producer will post earnings per share of $7.38 for the year, up from their previous estimate of $7.14.

Other research analysts have also recently issued research reports about the stock. MKM Partners upped their price target on shares of Occidental Petroleum from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, March 1st. Piper Sandler upgraded shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $44.00 to $88.00 in a research report on Thursday, April 7th. Stifel Nicolaus started coverage on shares of Occidental Petroleum in a research report on Tuesday, April 5th. They issued a “buy” rating and a $84.00 target price for the company. Barclays upped their target price on shares of Occidental Petroleum from $69.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, April 22nd. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $62.00.

Shares of OXY stock opened at $64.08 on Monday. The company’s fifty day simple moving average is $58.25 and its two-hundred day simple moving average is $42.95. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.16 and a quick ratio of 1.00. Occidental Petroleum has a 1 year low of $21.62 and a 1 year high of $64.98. The stock has a market capitalization of $60.04 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.20 and a beta of 1.94.

Occidental Petroleum (NYSE:OXYGet Rating) last issued its earnings results on Tuesday, May 10th. The oil and gas producer reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. Occidental Petroleum had a net margin of 25.01% and a return on equity of 47.28%. The business had revenue of $8.53 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the previous year, the firm posted ($0.15) EPS. The business’s revenue for the quarter was up 61.2% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, June 10th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Thursday, June 9th. Occidental Petroleum’s dividend payout ratio is 7.91%.

In other news, CEO Vicki A. Hollub purchased 14,191 shares of Occidental Petroleum stock in a transaction that occurred on Monday, March 28th. The stock was bought at an average price of $56.24 per share, with a total value of $798,101.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc purchased 5,867,118 shares of Occidental Petroleum stock in a transaction that occurred on Monday, May 2nd. The shares were purchased at an average cost of $57.10 per share, with a total value of $335,012,437.80. Following the transaction, the insider now directly owns 142,240,118 shares of the company’s stock, valued at $8,121,910,737.80. The disclosure for this purchase can be found here. Insiders have acquired 6,783,083 shares of company stock valued at $387,503,934 in the last ninety days. Insiders own 0.31% of the company’s stock.

Several institutional investors have recently modified their holdings of OXY. Moors & Cabot Inc. boosted its stake in shares of Occidental Petroleum by 91.6% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 11,955 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Occidental Petroleum by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 80,321 shares of the oil and gas producer’s stock valued at $2,376,000 after buying an additional 2,765 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its stake in shares of Occidental Petroleum by 204.5% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 128,200 shares of the oil and gas producer’s stock valued at $3,792,000 after buying an additional 86,100 shares in the last quarter. IndexIQ Advisors LLC lifted its stake in shares of Occidental Petroleum by 309.8% during the 3rd quarter. IndexIQ Advisors LLC now owns 3,442 shares of the oil and gas producer’s stock valued at $102,000 after buying an additional 2,602 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Occidental Petroleum by 216.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,162 shares of the oil and gas producer’s stock valued at $3,288,000 after buying an additional 75,983 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

About Occidental Petroleum (Get Rating)

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

Further Reading

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



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