OXY FY2024 EPS Estimate Increased by Capital One Financial

Occidental Petroleum Co. (NYSE:OXY) – Equities research analysts at Capital One Financial boosted their FY2024 earnings estimates for shares of Occidental Petroleum in a research report issued on Wednesday, January 8th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $3.27 per share for the year, up from their previous forecast of $3.25. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.35 per share. Capital One Financial also issued estimates for Occidental Petroleum’s Q4 2024 earnings at $0.59 EPS and FY2026 earnings at $2.93 EPS.

Several other equities research analysts have also issued reports on OXY. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Bank of America started coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. Mizuho cut their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. The Goldman Sachs Group started coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Scotiabank decreased their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $62.10.

Occidental Petroleum Price Performance

OXY opened at $51.16 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum has a 1 year low of $45.17 and a 1 year high of $71.18. The stock has a fifty day moving average price of $49.51 and a 200 day moving average price of $53.97. The stock has a market cap of $48.01 billion, a price-to-earnings ratio of 13.32 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in Occidental Petroleum by 24.1% in the 2nd quarter. Victory Capital Management Inc. now owns 385,387 shares of the oil and gas producer’s stock valued at $24,291,000 after buying an additional 74,750 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Occidental Petroleum during the second quarter worth about $1,563,000. Dorsey & Whitney Trust CO LLC boosted its position in shares of Occidental Petroleum by 16.8% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,457 shares of the oil and gas producer’s stock worth $344,000 after acquiring an additional 783 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Occidental Petroleum by 11.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 72,286 shares of the oil and gas producer’s stock valued at $4,556,000 after purchasing an additional 7,174 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.