Capital One Financial Comments on OXY FY2024 Earnings

Occidental Petroleum Co. (NYSE:OXY) – Equities research analysts at Capital One Financial increased their FY2024 earnings per share (EPS) estimates for shares of Occidental Petroleum in a research note issued to investors on Monday, November 18th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $3.25 per share for the year, up from their prior estimate 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.

OXY has been the subject of a number of other research reports. Susquehanna cut their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Bank of America started coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price on the stock. Truist Financial dropped their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Raymond James lifted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Finally, TD Cowen dropped their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Price Performance

OXY stock opened at $51.54 on Thursday. The company has a market capitalization of $48.36 billion, a P/E ratio of 13.42 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum has a 52-week low of $48.42 and a 52-week high of $71.18. The business has a 50-day simple moving average of $51.77 and a two-hundred day simple moving average of $57.11.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OXY. Earnest Partners LLC increased its stake in Occidental Petroleum by 2.6% in the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after acquiring an additional 173 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Occidental Petroleum by 2.0% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock valued at $573,000 after buying an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Occidental Petroleum by 0.6% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock valued at $1,735,000 after buying an additional 176 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Occidental Petroleum by 1.0% during the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock valued at $1,109,000 after buying an additional 182 shares during the last quarter. Finally, Gateway Advisory LLC grew its stake in shares of Occidental Petroleum by 3.9% during the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock valued at $306,000 after buying an additional 184 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Announces Dividend

The company also recently declared 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 of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.71%. Occidental Petroleum’s payout ratio is currently 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.