Analysts Expect Occidental Petroleum Co. (NYSE:OXY) Will Announce Earnings of $1.08 Per Share – MarketBeat

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Equities analysts expect Occidental Petroleum Co. (NYSE:OXY) to post $1.08 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Occidental Petroleum’s earnings, with estimates ranging from $0.94 to $1.25. Occidental Petroleum reported earnings per share of ($0.78) in the same quarter last year, which would suggest a positive year over year growth rate of 238.5%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, February 24th.
On average, analysts expect that Occidental Petroleum will report full year earnings of $2.15 per share for the current financial year, with EPS estimates ranging from $1.99 to $2.31. For the next year, analysts anticipate that the firm will report earnings of $3.88 per share, with EPS estimates ranging from $1.69 to $5.08. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Occidental Petroleum.
Several research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Occidental Petroleum from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 25th. Credit Suisse Group boosted their target price on Occidental Petroleum from $27.00 to $28.00 and gave the stock an “underperform” rating in a research note on Friday, November 5th. Citigroup boosted their target price on Occidental Petroleum from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, January 25th. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, February 8th. Finally, Truist Financial boosted their target price on Occidental Petroleum from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, January 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $38.56.(adsbygoogle = window.adsbygoogle || []).push({});
Shares of NYSE:OXY traded up $2.30 on Friday, reaching $42.98. The company had a trading volume of 24,445,807 shares, compared to its average volume of 19,613,938. Occidental Petroleum has a 52-week low of $21.62 and a 52-week high of $43.16. The firm’s 50 day simple moving average is $33.57 and its 200-day simple moving average is $30.68. The firm has a market capitalization of $40.14 billion, a PE ratio of -35.23, a PEG ratio of 0.27 and a beta of 2.32. The company has a current ratio of 1.08, a quick ratio of 0.89 and a debt-to-equity ratio of 3.39.
Several hedge funds have recently modified their holdings of OXY. State of Michigan Retirement System raised its holdings in Occidental Petroleum by 5.5% in the 3rd quarter. State of Michigan Retirement System now owns 222,762 shares of the oil and gas producer’s stock worth $6,589,000 after purchasing an additional 11,600 shares during the period. BOKF NA acquired a new position in Occidental Petroleum in the 3rd quarter worth about $3,035,000. Mackay Shields LLC raised its holdings in Occidental Petroleum by 2.4% in the 3rd quarter. Mackay Shields LLC now owns 135,417 shares of the oil and gas producer’s stock worth $4,006,000 after purchasing an additional 3,189 shares during the period. HITE Hedge Asset Management LLC acquired a new position in Occidental Petroleum in the 2nd quarter worth about $19,259,000. Finally, Estate Counselors LLC raised its holdings in Occidental Petroleum by 59.8% in the 3rd quarter. Estate Counselors LLC now owns 62,100 shares of the oil and gas producer’s stock worth $1,836,000 after purchasing an additional 23,250 shares during the period. 69.46% of the stock is owned by institutional investors and hedge funds.
Occidental Petroleum Company Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.
Further Reading

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Earnings History and Estimates for Occidental Petroleum (NYSE:OXY)
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