Zacks Research Issues Pessimistic Forecast for OXY Earnings

Occidental Petroleum Co. (NYSE:OXY - Free Report) - Research analysts at Zacks Research cut their Q4 2024 earnings per share estimates for Occidental Petroleum in a research report issued to clients and investors on Tuesday, December 3rd. Zacks Research analyst J. Saha now anticipates that the oil and gas producer will post earnings per share of $0.63 for the quarter, down from their previous forecast of $0.91. The consensus estimate for Occidental Petroleum's current full-year earnings is $3.36 per share. Zacks Research also issued estimates for Occidental Petroleum's Q1 2025 earnings at $0.81 EPS, Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.82 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $2.85 EPS, Q1 2026 earnings at $0.73 EPS, Q2 2026 earnings at $0.84 EPS, Q3 2026 earnings at $0.65 EPS and FY2026 earnings at $2.72 EPS.

OXY has been the topic of a number of other research reports. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Monday. Wolfe Research raised their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. UBS Group cut their target price on shares of Occidental Petroleum from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Monday, November 18th. Barclays lowered their target price on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating on the stock in a report on Thursday, October 3rd. Finally, Scotiabank reduced their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus target price of $63.25.

Occidental Petroleum Trading Down 1.9 %

Shares of Occidental Petroleum stock traded down $0.94 on Friday, reaching $47.54. The company had a trading volume of 16,568,009 shares, compared to its average volume of 9,396,394. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum has a 1 year low of $47.20 and a 1 year high of $71.18. The firm has a market cap of $44.61 billion, a price-to-earnings ratio of 12.38 and a beta of 1.57. The firm's 50-day moving average price is $51.49 and its two-hundred day moving average price is $56.17.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.92%.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC grew its holdings in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the third quarter valued at about $50,000. Strategic Financial Concepts LLC bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at about $53,000. Finally, LRI Investments LLC lifted its position in shares of Occidental Petroleum by 34.6% during the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer's stock valued at $57,000 after acquiring an additional 233 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.