What is Roth Capital’s Estimate for OXY FY2024 Earnings?

Occidental Petroleum Co. (NYSE:OXY) – Investment analysts at Roth Capital dropped their FY2024 earnings per share (EPS) estimates for shares of Occidental Petroleum in a report issued on Wednesday, November 13th. Roth Capital analyst L. Mariani now expects that the oil and gas producer will earn $3.50 per share for the year, down from their previous forecast of $4.00. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.24 per share. Roth Capital also issued estimates for Occidental Petroleum’s Q4 2024 earnings at $0.83 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.67 EPS, Q3 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.98 EPS and FY2025 earnings at $3.24 EPS.

Several other research analysts also recently weighed in on OXY. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday. Scotiabank decreased their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Bank of America began coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Finally, Jefferies Financial Group raised their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $63.65.

Occidental Petroleum Stock Down 0.8 %

OXY stock opened at $50.50 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market cap of $47.39 billion, a price-to-earnings ratio of 13.15 and a beta of 1.58. The business’s 50-day moving average is $51.75 and its two-hundred day moving average is $57.19. Occidental Petroleum has a fifty-two week low of $48.42 and a fifty-two week high of $71.18.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Fortitude Family Office LLC raised its stake in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the third quarter valued at approximately $32,000. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum in the 1st quarter valued at $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum in the first quarter worth $44,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of Occidental Petroleum during the third quarter valued at $50,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

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, 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.