Scotiabank Issues Pessimistic Estimate for OXY Earnings

Occidental Petroleum Co. (NYSE:OXY - Free Report) - Equities researchers at Scotiabank reduced their FY2026 earnings estimates for Occidental Petroleum in a research report issued on Wednesday, March 19th. Scotiabank analyst P. Cheng now expects that the oil and gas producer will earn $3.70 per share for the year, down from their previous estimate of $3.90. The consensus estimate for Occidental Petroleum's current full-year earnings is $3.58 per share.

Several other research analysts have also recently weighed in on the stock. Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. StockNews.com cut shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Wells Fargo & Company reissued an "equal weight" rating on shares of Occidental Petroleum in a report on Friday, February 21st. Raymond James downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Finally, Mizuho lowered their price target on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.45.

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Occidental Petroleum Stock Performance

OXY stock traded down $0.03 during midday trading on Friday, hitting $47.91. 10,150,508 shares of the company traded hands, compared to its average volume of 9,990,277. The stock has a market capitalization of $44.97 billion, a price-to-earnings ratio of 19.64 and a beta of 1.51. The business has a 50 day simple moving average of $48.51 and a 200-day simple moving average of $49.93. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum has a twelve month low of $44.70 and a twelve month high of $71.19.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company's stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Several large investors have recently modified their holdings of OXY. Prospera Financial Services Inc increased its position in Occidental Petroleum by 22.5% during the third quarter. Prospera Financial Services Inc now owns 9,160 shares of the oil and gas producer's stock worth $472,000 after purchasing an additional 1,685 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Occidental Petroleum by 149.8% during the third quarter. Banque Cantonale Vaudoise now owns 11,347 shares of the oil and gas producer's stock valued at $585,000 after purchasing an additional 6,804 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Occidental Petroleum in the third quarter worth approximately $685,000. Segall Bryant & Hamill LLC bought a new position in Occidental Petroleum during the third quarter valued at about $7,743,000. Finally, Commerce Bank lifted its stake in Occidental Petroleum by 4.1% during the third quarter. Commerce Bank now owns 30,246 shares of the oil and gas producer's stock valued at $1,559,000 after purchasing an additional 1,181 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.