What is Zacks Research’s Forecast for OXY FY2024 Earnings?

Occidental Petroleum Co. (NYSE:OXY) – Analysts at Zacks Research boosted their FY2024 EPS estimates for Occidental Petroleum in a report released on Thursday, January 30th. Zacks Research analyst J. Saha now forecasts that the oil and gas producer will post earnings of $3.30 per share for the year, up from their previous estimate of $3.29. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.34 per share. Zacks Research also issued estimates for Occidental Petroleum’s Q4 2024 earnings at $0.64 EPS, Q1 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.84 EPS, FY2025 earnings at $2.89 EPS, Q2 2026 earnings at $0.81 EPS, Q3 2026 earnings at $0.75 EPS, Q4 2026 earnings at $0.62 EPS and FY2026 earnings at $2.93 EPS.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their target price for the company from $54.00 to $45.00 in a report on Friday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. UBS Group lowered their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Wolfe Research boosted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Raymond James boosted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $61.71.

Occidental Petroleum Stock Down 0.6 %

OXY opened at $46.38 on Monday. The stock has a market cap of $43.52 billion, a price-to-earnings ratio of 12.08 and a beta of 1.55. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company’s 50-day moving average price is $49.43 and its two-hundred day moving average price is $52.54. Occidental Petroleum has a twelve month low of $45.17 and a twelve month high of $71.18.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its stake in shares of Occidental Petroleum by 87.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,754 shares of the oil and gas producer’s stock valued at $142,000 after acquiring an additional 1,287 shares during the last quarter. Czech National Bank increased its holdings in Occidental Petroleum by 8.3% during the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after purchasing an additional 10,456 shares during the last quarter. Chemistry Wealth Management LLC increased its holdings in Occidental Petroleum by 0.9% during the 3rd quarter. Chemistry Wealth Management LLC now owns 35,974 shares of the oil and gas producer’s stock worth $1,854,000 after purchasing an additional 313 shares during the last quarter. True North Advisors LLC grew its position in shares of Occidental Petroleum by 44.2% in the 3rd quarter. True North Advisors LLC now owns 6,272 shares of the oil and gas producer’s stock worth $323,000 after acquiring an additional 1,923 shares in the last quarter. Finally, Royal Fund Management LLC grew its position in shares of Occidental Petroleum by 124.2% in the 3rd quarter. Royal Fund Management LLC now owns 57,416 shares of the oil and gas producer’s stock worth $2,959,000 after acquiring an additional 31,809 shares in 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 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is presently 22.92%.

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.