Q4 2024 EPS Estimates for Occidental Petroleum Co. Raised by Analyst (NYSE:OXY)

Occidental Petroleum Co. (NYSE:OXY) – Investment analysts at Zacks Research increased their Q4 2024 earnings per share (EPS) estimates for Occidental Petroleum in a report issued on Tuesday, July 23rd. Zacks Research analyst J. Saha now forecasts that the oil and gas producer will post earnings per share of $1.19 for the quarter, up from their prior forecast of $1.16. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.72 per share. Zacks Research also issued estimates for Occidental Petroleum’s Q3 2025 earnings at $1.18 EPS, Q4 2025 earnings at $1.20 EPS and FY2025 earnings at $4.97 EPS.

A number of other equities research analysts also recently weighed in on the company. Barclays assumed coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective on the stock. HSBC began coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 target price on the stock. Scotiabank reduced their target price on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Mizuho boosted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Finally, Susquehanna boosted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $72.31.

Occidental Petroleum Stock Down 0.6 %

NYSE OXY opened at $60.06 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average is $61.69 and its two-hundred day moving average is $62.00. The company has a market capitalization of $53.25 billion, a price-to-earnings ratio of 16.41 and a beta of 1.61. Occidental Petroleum has a 1-year low of $55.12 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The company’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share.

Institutional Investors Weigh In On Occidental Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CapWealth Advisors LLC increased its stake in Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock valued at $397,000 after purchasing an additional 162 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in Occidental Petroleum by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after purchasing an additional 164 shares in the last quarter. Investment Research & Advisory Group Inc. grew its holdings in shares of Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 167 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Occidental Petroleum by 2.6% during the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after buying an additional 173 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Occidental Petroleum by 0.8% during the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after buying an additional 175 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc bought 1,060,653 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $59.59 per share, with a total value of $63,204,312.27. Following the completion of the purchase, the insider now directly owns 254,947,063 shares of the company’s stock, valued at $15,192,295,484.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 4,656,747 shares of company stock valued at $278,664,028 over the last quarter. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, June 10th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Monday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

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.