Occidental Petroleum to Post Q1 2018 Earnings of $0.77 Per Share, Piper Jaffray Forecasts (OXY)

Occidental Petroleum (NYSE:OXY) – Piper Jaffray issued their Q1 2018 earnings per share (EPS) estimates for Occidental Petroleum in a research note issued to investors on Sunday, April 15th. Piper Jaffray analyst G. Baber forecasts that the oil and gas producer will post earnings of $0.77 per share for the quarter. Piper Jaffray has a “Overweight” rating and a $86.00 price objective on the stock. Piper Jaffray also issued estimates for Occidental Petroleum’s Q2 2018 earnings at $0.91 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $0.96 EPS, FY2018 earnings at $3.63 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.87 EPS, Q3 2019 earnings at $0.82 EPS, Q4 2019 earnings at $0.76 EPS and Q1 2020 earnings at $0.75 EPS.

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Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the firm earned ($0.13) EPS.

OXY has been the topic of several other research reports. Morgan Stanley upped their target price on shares of Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Citigroup raised shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective on the stock in a report on Monday, January 22nd. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Monday, April 9th. Macquarie initiated coverage on shares of Occidental Petroleum in a report on Wednesday, January 17th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets reissued a “hold” rating and set a $75.00 price objective on shares of Occidental Petroleum in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $74.00.

OXY opened at $75.99 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.12. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $78.09. The stock has a market capitalization of $57,554.48, a PE ratio of 85.38, a PEG ratio of 4.18 and a beta of 0.65.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Friday, March 9th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Thursday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.

Several hedge funds and other institutional investors have recently modified their holdings of OXY. OxFORD Asset Management LLP bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $629,000. Atlantic Trust Group LLC boosted its stake in shares of Occidental Petroleum by 7.6% in the 3rd quarter. Atlantic Trust Group LLC now owns 54,432 shares of the oil and gas producer’s stock valued at $3,496,000 after purchasing an additional 3,827 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of Occidental Petroleum by 70.3% in the 4th quarter. Fulton Bank N.A. now owns 36,214 shares of the oil and gas producer’s stock valued at $2,668,000 after purchasing an additional 14,954 shares during the last quarter. Grassi Investment Management bought a new position in shares of Occidental Petroleum in the 4th quarter valued at about $1,109,000. Finally, Sawyer & Company Inc bought a new position in shares of Occidental Petroleum in the 4th quarter valued at about $1,250,000. 82.69% of the stock is currently owned by institutional investors.

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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 and internationally. The company operates through three 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 (NGLs), and natural gas.

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

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