Occidental Petroleum (NYSE:OXY – Get Free Report) released its quarterly earnings results on Wednesday. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.26, Briefing.com reports. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 EPS.
Occidental Petroleum Stock Down 0.2 %
Shares of NYSE OXY traded down $0.12 during mid-day trading on Friday, reaching $58.41. 7,596,926 shares of the company’s stock traded hands, compared to its average volume of 7,989,383. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. Occidental Petroleum has a 1-year low of $55.04 and a 1-year high of $71.18. The stock has a market cap of $51.79 billion, a P/E ratio of 15.96 and a beta of 1.61. The business has a 50-day simple moving average of $60.81 and a 200 day simple moving average of $62.10.
Occidental Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.51%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.
Analyst Upgrades and Downgrades
View Our Latest Research Report on OXY
Insider Activity at Occidental Petroleum
In related news, major shareholder Berkshire Hathaway Inc purchased 524,340 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average price of $59.75 per share, for a total transaction of $31,329,315.00. Following the completion of the acquisition, the insider now owns 248,542,468 shares of the company’s stock, valued at approximately $14,850,412,463. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have acquired 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is owned by corporate insiders.
About Occidental Petroleum
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.
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