Scotiabank Forecasts Lower Earnings for Occidental Petroleum

Occidental Petroleum Co. (NYSE:OXY) – Investment analysts at Scotiabank cut their FY2026 EPS estimates for shares of Occidental Petroleum in a research report issued on Wednesday, March 19th. Scotiabank analyst P. Cheng now anticipates that the oil and gas producer will earn $3.70 per share for the year, down from their prior estimate of $3.90. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.58 per share.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion.

Several other research firms have also recently weighed in on OXY. Mizuho decreased their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Truist Financial upped their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. UBS Group lifted their price objective on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $60.45.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $48.11 on Friday. Occidental Petroleum has a 1-year low of $44.70 and a 1-year high of $71.19. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $45.15 billion, a PE ratio of 19.72 and a beta of 1.51. The firm’s 50 day simple moving average is $48.61 and its 200 day simple moving average is $50.04.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.00%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is presently 39.34%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OXY. Altshuler Shaham Ltd bought a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at $27,000. VSM Wealth Advisory LLC bought a new position in Occidental Petroleum in the 4th quarter worth $27,000. Bernard Wealth Management Corp. purchased a new stake in shares of Occidental Petroleum in the 4th quarter worth about $32,000. Finally, Atala Financial Inc purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.