Equities Analysts Offer Predictions for OXY Q4 Earnings

Occidental Petroleum Co. (NYSE:OXY) – Equities researchers at Zacks Research decreased their Q4 2024 earnings per share (EPS) estimates for shares of Occidental Petroleum in a note issued to investors on Tuesday, December 3rd. Zacks Research analyst J. Saha now anticipates that the oil and gas producer will earn $0.63 per share for the quarter, down from their previous estimate of $0.91. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.35 per share. Zacks Research also issued estimates for Occidental Petroleum’s Q1 2025 earnings at $0.81 EPS, Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.82 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $2.85 EPS, Q1 2026 earnings at $0.73 EPS, Q2 2026 earnings at $0.84 EPS, Q3 2026 earnings at $0.65 EPS and FY2026 earnings at $2.72 EPS.

OXY has been the topic of several other research reports. Jefferies Financial Group upped their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Truist Financial dropped their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. Evercore ISI reduced their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company dropped their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Finally, Scotiabank reduced 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. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.25.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $47.54 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The stock’s fifty day simple moving average is $51.42 and its 200 day simple moving average is $56.00. Occidental Petroleum has a one year low of $47.20 and a one year high of $71.18. The firm has a market cap of $44.61 billion, a price-to-earnings ratio of 12.38 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Institutional Trading of Occidental Petroleum

A number of hedge funds have recently modified their holdings of the company. H&H International Investment LLC raised its holdings in Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after purchasing an additional 7,680,598 shares during the period. Himalaya Capital Management LLC bought a new position in Occidental Petroleum during the second quarter worth about $92,433,000. Sarasin & Partners LLP acquired a new position in Occidental Petroleum in the second quarter valued at about $63,880,000. Anson Funds Management LP raised its position in shares of Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares during the period. Finally, Scharf Investments LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth about $42,744,000. 88.70% 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, 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.