Occidental Petroleum (OXY) to Release Earnings on Wednesday

Occidental Petroleum (NYSE:OXYGet Free Report) is scheduled to release its earnings data after the market closes on Wednesday, February 14th. Analysts expect Occidental Petroleum to post earnings of $1.00 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Occidental Petroleum (NYSE:OXYGet Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.29. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Occidental Petroleum had a return on equity of 25.39% and a net margin of 18.26%. Occidental Petroleum’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. On average, analysts expect Occidental Petroleum to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Occidental Petroleum Stock Up 1.0 %

Occidental Petroleum stock opened at $57.57 on Wednesday. The stock has a market cap of $50.68 billion, a PE ratio of 12.60 and a beta of 1.64. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.70 and a current ratio of 0.92. Occidental Petroleum has a one year low of $55.12 and a one year high of $67.67. The stock has a fifty day moving average of $58.29 and a 200 day moving average of $61.40.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 3,200,799 shares of the stock in a transaction dated Wednesday, December 13th. The stock was acquired at an average cost of $56.55 per share, with a total value of $181,005,183.45. Following the purchase, the insider now directly owns 238,533,189 shares of the company’s stock, valued at $13,489,051,837.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased 8,720,708 shares of company stock valued at $505,766,000 in the last ninety days. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently modified their holdings of the business. Moneta Group Investment Advisors LLC purchased a new position in Occidental Petroleum during the 4th quarter worth $267,173,000. First Trust Advisors LP increased its holdings in Occidental Petroleum by 87.9% during the 1st quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock worth $185,885,000 after purchasing an additional 1,532,100 shares during the period. Clean Energy Transition LLP purchased a new position in Occidental Petroleum during the 1st quarter worth $46,838,000. Alliancebernstein L.P. increased its holdings in Occidental Petroleum by 23.8% during the 4th quarter. Alliancebernstein L.P. now owns 3,000,766 shares of the oil and gas producer’s stock worth $189,018,000 after purchasing an additional 576,210 shares during the period. Finally, ING Groep NV increased its holdings in Occidental Petroleum by 457.6% during the 1st quarter. ING Groep NV now owns 646,150 shares of the oil and gas producer’s stock worth $36,663,000 after purchasing an additional 530,267 shares during the period. 77.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, December 8th. Susquehanna upped their price target on Occidental Petroleum from $72.00 to $78.00 and gave the stock a “positive” rating in a research report on Wednesday, October 18th. Stephens restated an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, October 12th. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Morgan Stanley upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and set a $68.00 target price for the company in a research report on Monday, December 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.29.

View Our Latest Stock Report on OXY

Occidental Petroleum Company Profile

(Get Free Report)

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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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Earnings History for Occidental Petroleum (NYSE:OXY)

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