Zacks Research Issues Positive Outlook for OXY Earnings

by · The Cerbat Gem

Occidental Petroleum Corporation (NYSE:OXY – Free Report) – Stock analysts at Zacks Research increased their Q1 2027 earnings estimates for Occidental Petroleum in a research note issued to investors on Wednesday, December 17th. Zacks Research analyst Team now anticipates that the oil and gas producer will post earnings of $0.49 per share for the quarter, up from their prior estimate of $0.48. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.58 per share.

Several other equities analysts also recently weighed in on the stock. Mizuho raised their target price on shares of Occidental Petroleum from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Citigroup dropped their price objective on shares of Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Evercore ISI cut their price objective on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research report on Friday, October 3rd. Wells Fargo & Company dropped their price target on Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. Finally, Raymond James Financial restated an “outperform” rating and issued a $50.00 price objective on shares of Occidental Petroleum in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.95.

View Our Latest Research Report on OXY

Occidental Petroleum Trading Up 1.6%

Shares of OXY stock opened at $40.26 on Monday. The stock has a market cap of $39.67 billion, a P/E ratio of 29.60 and a beta of 0.39. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Occidental Petroleum has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The business has a fifty day simple moving average of $41.36 and a 200-day simple moving average of $43.69.

Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same period last year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Occidental Petroleum by 0.8% during the third quarter. Vanguard Group Inc. now owns 89,201,540 shares of the oil and gas producer’s stock worth $4,214,773,000 after purchasing an additional 697,521 shares during the period. State Street Corp increased its holdings in shares of Occidental Petroleum by 1.6% during the 2nd quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock worth $1,649,147,000 after buying an additional 615,566 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Occidental Petroleum by 22.0% in the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after buying an additional 3,267,269 shares during the period. H&H International Investment LLC boosted its holdings in Occidental Petroleum by 1.8% in the first quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock valued at $682,456,000 after acquiring an additional 249,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Occidental Petroleum by 11.5% during the third quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer’s stock valued at $412,045,000 after acquiring an additional 900,677 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of the stock in a transaction on Tuesday, December 16th. The stock was bought at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the acquisition, the director directly owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.49% of the company’s stock.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a yield of 2.4%. Occidental Petroleum’s dividend payout ratio is 70.59%.

About Occidental Petroleum

(Get Free Report)

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.

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