Capital One Financial Weighs in on OXY FY2024 Earnings

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

A number of other equities research analysts have also weighed in on the company. StockNews.com upgraded Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Wednesday, January 15th. Truist Financial lifted their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a report on Monday, January 13th. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 target price on the stock. Evercore ISI cut their target price on Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating on the stock in a report on Monday, September 30th. Finally, Jefferies Financial Group lifted their target price on Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Occidental Petroleum has a consensus rating of "Hold" and an average target price of $62.19.

Occidental Petroleum Price Performance

OXY stock traded down $1.40 during midday trading on Monday, reaching $50.57. 13,206,505 shares of the stock were exchanged, compared to its average volume of 10,087,709. The stock has a market capitalization of $47.46 billion, a PE ratio of 13.17 and a beta of 1.57. Occidental Petroleum has a 52 week low of $45.17 and a 52 week high of $71.18. 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 company has a fifty day moving average price of $49.72 and a 200 day moving average price of $53.32.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors have recently bought and sold shares of the company. Gateway Advisory LLC lifted its stake in Occidental Petroleum by 3.9% in the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer's stock valued at $306,000 after purchasing an additional 184 shares during the last quarter. Segment Wealth Management LLC lifted its stake in Occidental Petroleum by 5.2% in the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer's stock valued at $205,000 after purchasing an additional 196 shares during the last quarter. Wealth Alliance Advisory Group LLC lifted its stake in Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer's stock valued at $474,000 after purchasing an additional 200 shares during the last quarter. Leavell Investment Management Inc. lifted its stake in Occidental Petroleum by 3.3% in the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer's stock valued at $323,000 after purchasing an additional 200 shares during the last quarter. Finally, Empire Financial Management Company LLC lifted its stake in Occidental Petroleum by 4.1% in the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer's stock valued at $329,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Insider Activity

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

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum's dividend payout ratio is presently 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.