Scotiabank Has Negative Forecast for OXY FY2025 Earnings

Occidental Petroleum Co. (NYSE:OXY) – Equities research analysts at Scotiabank decreased their FY2025 earnings per share estimates for Occidental Petroleum in a note issued to investors on Wednesday, March 19th. Scotiabank analyst P. Cheng now forecasts that the oil and gas producer will earn $2.85 per share for the year, down from their previous estimate of $3.40. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%.

A number of other research analysts have also recently commented on the company. Truist Financial raised their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Stephens restated an “overweight” rating and issued a $71.00 target price on shares of Occidental Petroleum in a report on Wednesday, February 19th. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Mizuho reduced their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.45.

Occidental Petroleum Stock Down 0.1 %

OXY opened at $47.91 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The company has a market capitalization of $44.97 billion, a P/E ratio of 19.64 and a beta of 1.51. Occidental Petroleum has a fifty-two week low of $44.70 and a fifty-two week high of $71.19. The stock has a fifty day moving average of $48.51 and a 200-day moving average of $49.93.

Occidental Petroleum Increases Dividend

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

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OXY. Altshuler Shaham Ltd purchased a new position in 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 purchased a new position in Occidental Petroleum during the 4th quarter valued at $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. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.