Research Analysts Offer Predictions for Occidental Petroleum Co.’s Q2 2022 Earnings (NYSE:OXY)

Occidental Petroleum Co. (NYSE:OXYGet Rating) – Investment analysts at Capital One Financial increased their Q2 2022 earnings per share estimates for Occidental Petroleum in a report issued on Thursday, May 19th. Capital One Financial analyst R. Tullis now forecasts that the oil and gas producer will earn $2.70 per share for the quarter, up from their previous estimate of $1.73. Capital One Financial currently has a “Overweight” rating and a $85.00 target price on the stock. Capital One Financial also issued estimates for Occidental Petroleum’s Q3 2022 earnings at $2.49 EPS, Q4 2022 earnings at $2.52 EPS, FY2022 earnings at $9.83 EPS and FY2023 earnings at $7.48 EPS.

Other equities analysts have also recently issued research reports about the company. StockNews.com raised Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Friday, May 13th. MKM Partners upped their target price on Occidental Petroleum from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, March 1st. Susquehanna Bancshares upped their target price on Occidental Petroleum from $71.00 to $73.00 in a report on Thursday, May 12th. Mizuho upped their target price on Occidental Petroleum from $78.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 31st. Finally, Barclays upped their target price on Occidental Petroleum from $69.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $63.15.

Occidental Petroleum stock opened at $63.26 on Monday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.16. Occidental Petroleum has a 52 week low of $21.62 and a 52 week high of $69.17. The stock has a market capitalization of $59.29 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 0.20 and a beta of 1.94. The stock has a fifty day moving average of $59.12 and a 200-day moving average of $44.05.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, June 10th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.82%. Occidental Petroleum’s payout ratio is 7.91%.

In other news, CEO Vicki A. Hollub purchased 14,191 shares of the business’s stock in a transaction on Monday, March 28th. The shares were acquired at an average price of $56.24 per share, for a total transaction of $798,101.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Avedick Baruyr Poladian sold 20,000 shares of the stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $57.23, for a total value of $1,144,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 6,783,083 shares of company stock worth $387,503,934. 0.31% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Mackay Shields LLC increased its position in shares of Occidental Petroleum by 2.4% during the third quarter. Mackay Shields LLC now owns 135,417 shares of the oil and gas producer’s stock valued at $4,006,000 after acquiring an additional 3,189 shares during the last quarter. Maverick Capital Ltd. increased its position in Occidental Petroleum by 1,551.4% in the third quarter. Maverick Capital Ltd. now owns 68,170 shares of the oil and gas producer’s stock worth $2,016,000 after buying an additional 64,042 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Occidental Petroleum by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,154,947 shares of the oil and gas producer’s stock worth $323,362,000 after buying an additional 421,344 shares during the last quarter. Kestra Advisory Services LLC increased its position in Occidental Petroleum by 23.0% in the fourth quarter. Kestra Advisory Services LLC now owns 47,838 shares of the oil and gas producer’s stock worth $1,387,000 after buying an additional 8,937 shares during the last quarter. Finally, Natixis Advisors L.P. increased its position in Occidental Petroleum by 11.4% in the fourth quarter. Natixis Advisors L.P. now owns 122,134 shares of the oil and gas producer’s stock worth $3,541,000 after buying an additional 12,519 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Company Profile (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.

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