Occidental Petroleum (OXY) to Release Earnings on Tuesday

Occidental Petroleum (NYSE:OXY) is scheduled to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Occidental Petroleum to post earnings of $0.62 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. Occidental Petroleum’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS. On average, analysts expect Occidental Petroleum to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Occidental Petroleum Price Performance

Shares of OXY opened at $68.23 on Tuesday. The firm has a market cap of $60.48 billion, a price-to-earnings ratio of 17.45 and a beta of 1.64. The stock has a 50 day moving average of $64.42 and a 200-day moving average of $61.37. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. Occidental Petroleum has a 52 week low of $55.12 and a 52 week high of $71.18.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were given a $0.22 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.29%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Analyst Ratings Changes

OXY has been the subject of several research reports. Raymond James decreased their target price on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. HSBC initiated coverage on Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 target price for the company. Barclays initiated coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. Wells Fargo & Company lifted their target price on Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Finally, Truist Financial boosted their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $71.94.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.