Occidental Petroleum (OXY) Scheduled to Post Quarterly Earnings on Tuesday

Occidental Petroleum (NYSE:OXY) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, November 12th. Analysts expect Occidental Petroleum to post earnings of $0.87 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. 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 Stock Performance

Occidental Petroleum stock opened at $50.56 on Tuesday. Occidental Petroleum has a 52-week low of $49.51 and a 52-week high of $71.18. The firm has a market capitalization of $45.79 billion, a P/E ratio of 12.45 and a beta of 1.58. The stock has a fifty day moving average price of $52.68 and a two-hundred day moving average price of $58.42. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on OXY shares. Wolfe Research initiated coverage on Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective on the stock. Mizuho dropped their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective for the company. Susquehanna decreased their price target on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Finally, Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $65.72.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% 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.