Capital One Financial Forecasts OXY FY2024 Earnings

Occidental Petroleum Co. (NYSE:OXY) – Equities researchers at Capital One Financial upped their FY2024 EPS estimates for Occidental Petroleum in a report issued on Monday, November 18th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $3.25 for the year, up from their prior estimate of $2.84. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.25 per share. Capital One Financial also issued estimates for Occidental Petroleum’s Q4 2024 earnings at $0.57 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.59 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.59 EPS, FY2025 earnings at $2.36 EPS and FY2026 earnings at $2.62 EPS.

Several other equities analysts also recently weighed in on the company. Raymond James increased their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday. TD Cowen decreased their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Evercore ISI dropped their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. Truist Financial decreased their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Finally, Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Price Performance

OXY stock opened at $51.91 on Thursday. The stock has a market capitalization of $48.71 billion, a price-to-earnings ratio of 13.52 and a beta of 1.58. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum has a 52-week low of $48.42 and a 52-week high of $71.18. The stock’s fifty day simple moving average is $51.79 and its 200-day simple moving average is $57.02.

Institutional Trading of Occidental Petroleum

A number of hedge funds have recently made changes to their positions in the stock. Earnest Partners LLC lifted its holdings in Occidental Petroleum by 2.6% during the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 173 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Occidental Petroleum by 2.0% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock valued at $573,000 after acquiring an additional 175 shares in the last quarter. Atria Wealth Solutions Inc. lifted its stake in Occidental Petroleum by 0.6% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock worth $1,735,000 after purchasing an additional 176 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in Occidental Petroleum by 1.0% in the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after purchasing an additional 182 shares during the period. Finally, Gateway Advisory LLC raised its holdings in shares of Occidental Petroleum by 3.9% during the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

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.