Capital One Financial Forecasts OXY FY2024 Earnings

Occidental Petroleum Co. (NYSE:OXY) – Stock analysts at Capital One Financial lifted their FY2024 earnings estimates for Occidental Petroleum in a note issued to investors on Monday, November 18th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings of $3.25 per share for the year, up from their prior forecast 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 brokerages have also issued reports on OXY. Bank of America began coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. TD Cowen lowered their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Mizuho cut their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Evercore ISI lowered their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Finally, Wells Fargo & Company cut their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $63.65.

Occidental Petroleum Trading Up 0.8 %

NYSE:OXY opened at $50.91 on Thursday. The firm’s 50 day moving average is $51.76 and its 200 day moving average is $57.15. Occidental Petroleum has a 12 month low of $48.42 and a 12 month high of $71.18. The stock has a market capitalization of $47.77 billion, a PE ratio of 13.26 and a beta of 1.58. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC boosted its holdings in 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 in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum in the first quarter worth about $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum in the first quarter worth about $44,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $50,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.73%. Occidental Petroleum’s payout ratio 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.