FY2024 Earnings Forecast for OXY Issued By Roth Capital

Occidental Petroleum Co. (NYSE:OXY - Free Report) - Analysts at Roth Capital lowered their FY2024 EPS estimates for shares of Occidental Petroleum in a report released on Wednesday, November 13th. Roth Capital analyst L. Mariani now expects that the oil and gas producer will earn $3.50 per share for the year, down from their previous estimate of $4.00. The consensus estimate for Occidental Petroleum's current full-year earnings is $3.24 per share. Roth Capital also issued estimates for Occidental Petroleum's Q4 2024 earnings at $0.83 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.67 EPS, Q3 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.98 EPS and FY2025 earnings at $3.24 EPS.

A number of other research firms have also weighed in on OXY. Wells Fargo & Company reduced their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Friday, September 27th. Evercore ISI reduced their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Mizuho reduced their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Finally, StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $63.65.

Occidental Petroleum Trading Up 2.4 %

Occidental Petroleum stock traded up $1.18 during midday trading on Monday, reaching $51.15. The stock had a trading volume of 7,781,923 shares, compared to its average volume of 9,371,244. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum has a 52-week low of $48.42 and a 52-week high of $71.18. The firm has a market cap of $48.00 billion, a price-to-earnings ratio of 13.34 and a beta of 1.58. The company has a fifty day moving average of $51.80 and a 200 day moving average of $57.38.

Institutional Investors Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in OXY. H&H International Investment LLC raised its holdings in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock worth $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC acquired a new position in Occidental Petroleum during the second quarter worth about $92,433,000. Clean Energy Transition LLP acquired a new position in Occidental Petroleum during the first quarter worth about $67,601,000. Sarasin & Partners LLP acquired a new position in Occidental Petroleum during the second quarter worth about $63,880,000. Finally, Anson Funds Management LP boosted its holdings in Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer's stock valued at $39,453,000 after purchasing an additional 745,050 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. Occidental Petroleum's payout ratio is currently 22.92%.

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.