Capital One Financial Estimates OXY FY2024 Earnings

Occidental Petroleum Co. (NYSE:OXY - Free Report) - Investment analysts at Capital One Financial lowered their FY2024 EPS estimates for shares of Occidental Petroleum in a research note issued on Thursday, January 16th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will earn $3.26 per share for the year, down from their previous forecast of $3.27. The consensus estimate for Occidental Petroleum's current full-year earnings is $3.32 per share.

A number of other analysts also recently issued reports on OXY. Jefferies Financial Group raised their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 price target on the stock. Susquehanna dropped their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating for the company in a report on Thursday, November 14th. Mizuho decreased their price target 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. Finally, Piper Sandler cut their price objective on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $62.19.

Occidental Petroleum Trading Down 0.6 %

OXY traded down $0.32 during trading hours on Monday, reaching $51.98. The company's stock had a trading volume of 7,831,562 shares, compared to its average volume of 11,086,349. The business's 50-day moving average is $49.70 and its 200-day moving average is $53.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The stock has a market cap of $48.78 billion, a PE ratio of 13.54 and a beta of 1.57. Occidental Petroleum has a fifty-two week low of $45.17 and a fifty-two week high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. Occidental Petroleum's payout ratio is 22.92%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the acquisition, the insider now directly owns 257,758,886 shares of the company's stock, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently bought and sold shares of the business. H&H International Investment LLC increased its holdings in shares of Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 2nd quarter valued at approximately $92,433,000. Anson Funds Management LP boosted its stake in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer's stock worth $39,453,000 after acquiring an additional 745,050 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock worth $710,886,000 after acquiring an additional 444,850 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Occidental Petroleum in the 3rd quarter valued at approximately $18,554,000. 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.