FY2019 EPS Estimates for Occidental Petroleum Co. Lowered by Analyst (NYSE:OXY)

Occidental Petroleum Co. (NYSE:OXY) – Research analysts at KeyCorp lowered their FY2019 EPS estimates for shares of Occidental Petroleum in a report released on Tuesday, February 11th. KeyCorp analyst L. Mariani now forecasts that the oil and gas producer will post earnings per share of $1.92 for the year, down from their previous estimate of $2.45. KeyCorp also issued estimates for Occidental Petroleum’s Q4 2019 earnings at $0.00 EPS, Q1 2020 earnings at $0.07 EPS, Q2 2020 earnings at ($0.10) EPS, Q3 2020 earnings at $0.03 EPS and FY2020 earnings at $0.11 EPS.

OXY has been the topic of a number of other research reports. Edward Jones upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Mizuho upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $58.00 in a report on Wednesday, January 8th. Tudor Pickering upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating and set a $41.00 price target on the stock in a report on Friday, January 3rd. Morgan Stanley upgraded shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $51.00 to $59.00 in a report on Monday, January 13th. Finally, UBS Group lifted their price target on shares of Occidental Petroleum from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $57.22.

Shares of OXY opened at $41.60 on Friday. The firm has a market cap of $37.53 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 5.41 and a beta of 0.91. The company’s fifty day moving average is $42.86 and its two-hundred day moving average is $42.65. Occidental Petroleum has a fifty-two week low of $37.25 and a fifty-two week high of $68.83. The company has a quick ratio of 1.23, a current ratio of 1.33 and a debt-to-equity ratio of 1.54.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 7.60%. The ex-dividend date of this dividend is Monday, March 9th. Occidental Petroleum’s payout ratio is currently 63.07%.

In related news, Director Bob Shearer bought 5,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was bought at an average price of $38.96 per share, with a total value of $194,800.00. Following the transaction, the director now owns 24,218 shares of the company’s stock, valued at $943,533.28. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jack B. Moore bought 12,900 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was bought at an average cost of $38.61 per share, with a total value of $498,069.00. Following the transaction, the director now directly owns 129,203 shares in the company, valued at approximately $4,988,527.83. The disclosure for this purchase can be found here. Insiders bought a total of 23,900 shares of company stock valued at $921,409 in the last three months. Insiders own 0.15% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. State Street Corp grew its position in shares of Occidental Petroleum by 4.3% during the 4th quarter. State Street Corp now owns 45,365,155 shares of the oil and gas producer’s stock valued at $1,904,338,000 after buying an additional 1,884,804 shares during the last quarter. American International Group Inc. grew its position in shares of Occidental Petroleum by 1,827.4% during the 4th quarter. American International Group Inc. now owns 7,239,952 shares of the oil and gas producer’s stock valued at $298,358,000 after buying an additional 6,864,310 shares during the last quarter. Charles Schwab Investment Advisory Inc. grew its position in shares of Occidental Petroleum by 4.1% during the 4th quarter. Charles Schwab Investment Advisory Inc. now owns 6,451,534 shares of the oil and gas producer’s stock valued at $265,868,000 after buying an additional 254,268 shares during the last quarter. Adams Asset Advisors LLC grew its position in shares of Occidental Petroleum by 1.6% during the 4th quarter. Adams Asset Advisors LLC now owns 6,356,650 shares of the oil and gas producer’s stock valued at $261,957,000 after buying an additional 97,608 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Occidental Petroleum by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,732,417 shares of the oil and gas producer’s stock valued at $236,233,000 after buying an additional 192,364 shares during the last quarter. 78.39% of the stock is 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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Earnings History and Estimates for Occidental Petroleum (NYSE:OXY)

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