Wall Street brokerages forecast that Occidental Petroleum Co. (NYSE:OXY) will post earnings per share of ($1.68) for the current quarter, according to Zacks. Five analysts have made estimates for Occidental Petroleum’s earnings. The highest EPS estimate is ($1.31) and the lowest is ($2.10). Occidental Petroleum posted earnings per share of $0.97 in the same quarter last year, which suggests a negative year-over-year growth rate of 273.2%. The company is scheduled to announce its next quarterly earnings results on Wednesday, July 29th.

On average, analysts expect that Occidental Petroleum will report full-year earnings of ($4.14) per share for the current fiscal year, with EPS estimates ranging from ($5.65) to ($2.98). For the next financial year, analysts expect that the firm will report earnings of ($2.58) per share, with EPS estimates ranging from ($4.35) to ($0.26). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Occidental Petroleum.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported ($0.52) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. The firm had revenue of $6.45 billion for the quarter, compared to the consensus estimate of $5.60 billion. Occidental Petroleum had a negative net margin of 13.85% and a positive return on equity of 1.24%. Occidental Petroleum’s quarterly revenue was up 57.8% compared to the same quarter last year. During the same period last year, the firm posted $0.84 EPS.

OXY has been the topic of several research analyst reports. Standpoint Research raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Monday, May 18th. Bank of America reissued a “neutral” rating and set a $18.00 target price (up previously from $15.00) on shares of Occidental Petroleum in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Occidental Petroleum from $37.00 to $16.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 11th. Jefferies Financial Group cut shares of Occidental Petroleum from a “hold” rating to an “underperform” rating and set a $10.00 target price on the stock. in a research note on Monday, March 16th. Finally, Mizuho cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research note on Friday, April 3rd. Seven analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $24.14.

Occidental Petroleum stock traded down $0.12 during trading hours on Monday, hitting $14.13. 26,059,641 shares of the company traded hands, compared to its average volume of 37,902,180. The firm has a market cap of $12.83 billion, a P/E ratio of -3.34 and a beta of 1.99. The company has a quick ratio of 1.06, a current ratio of 1.18 and a debt-to-equity ratio of 1.71. The firm’s 50-day simple moving average is $14.20 and its two-hundred day simple moving average is $30.48. Occidental Petroleum has a 1-year low of $9.00 and a 1-year high of $54.05.

In other news, SVP Oscar K. Brown bought 5,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $27.44 per share, with a total value of $137,200.00. Following the completion of the transaction, the senior vice president now directly owns 150,710 shares in the company, valued at approximately $4,135,482.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elisse B. Walter bought 3,758 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was purchased at an average cost of $32.93 per share, for a total transaction of $123,750.94. Over the last three months, insiders bought 38,758 shares of company stock worth $631,351. 0.21% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in OXY. Huntington National Bank boosted its holdings in shares of Occidental Petroleum by 11.1% during the fourth quarter. Huntington National Bank now owns 59,095 shares of the oil and gas producer’s stock worth $2,435,000 after purchasing an additional 5,906 shares during the period. Bristlecone Advisors LLC lifted its stake in Occidental Petroleum by 20.6% in the fourth quarter. Bristlecone Advisors LLC now owns 9,876 shares of the oil and gas producer’s stock valued at $407,000 after acquiring an additional 1,686 shares during the last quarter. Empire Life Investments Inc. lifted its stake in Occidental Petroleum by 49.1% in the fourth quarter. Empire Life Investments Inc. now owns 913,483 shares of the oil and gas producer’s stock valued at $37,645,000 after acquiring an additional 300,893 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Occidental Petroleum by 22.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 161,204 shares of the oil and gas producer’s stock valued at $6,643,000 after acquiring an additional 29,519 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Occidental Petroleum by 26.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,493 shares of the oil and gas producer’s stock valued at $10,694,000 after acquiring an additional 53,487 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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