Occidental Petroleum (OXY) Expected to Announce Quarterly Earnings on Tuesday

Occidental Petroleum (NYSE:OXY - Get Free Report) is projected to post its Q4 2024 quarterly earnings results after the market closes on Tuesday, February 18th. Analysts expect Occidental Petroleum to post earnings of $0.67 per share and revenue of $7.14 billion for the quarter. Investors that are interested in registering for the company's conference call can do so using this link.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 15.98% and a net margin of 15.89%. The business had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. On average, analysts expect Occidental Petroleum to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Occidental Petroleum Trading Up 4.4 %

Shares of NYSE OXY traded up $2.16 during midday trading on Wednesday, reaching $51.00. The stock had a trading volume of 25,112,933 shares, compared to its average volume of 10,432,487. The company's 50 day moving average price is $49.01 and its 200 day moving average price is $51.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum has a twelve month low of $45.17 and a twelve month high of $71.18. The firm has a market cap of $47.86 billion, a price-to-earnings ratio of 13.28 and a beta of 1.55.

Occidental Petroleum Increases Dividend

The company also recently announced 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 is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 1.88%. Occidental Petroleum's payout ratio is presently 22.92%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of Occidental Petroleum stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now directly owns 264,178,414 shares of the company's stock, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 6,854,394 shares of company stock worth $315,101,532 in the last quarter. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Mizuho dropped their price objective on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. Stephens reissued an "overweight" rating and set a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday. UBS Group dropped their price target on Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. Finally, Wolfe Research boosted their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $61.71.

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.