Zacks Research Issues Pessimistic Outlook for OXY Earnings

Occidental Petroleum Co. (NYSE:OXY) – Research analysts at Zacks Research lowered their Q4 2024 earnings estimates for shares of Occidental Petroleum in a research report issued to clients and investors on Tuesday, December 3rd. Zacks Research analyst J. Saha now expects that the oil and gas producer will earn $0.63 per share for the quarter, down from their previous forecast of $0.91. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.36 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.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target for the company. Scotiabank dropped their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Susquehanna decreased their target price 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 Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. Finally, Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.25.

Occidental Petroleum Trading Down 1.9 %

Shares of NYSE:OXY opened at $47.54 on Friday. Occidental Petroleum has a 1 year low of $47.20 and a 1 year high of $71.18. The firm has a fifty day moving average price of $51.49 and a 200 day moving average price of $56.17. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $44.61 billion, a PE ratio of 12.38 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

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

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after buying an additional 444,850 shares during the last quarter. H&H International Investment LLC raised its stake in shares of 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 acquiring an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Occidental Petroleum by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after purchasing an additional 98,703 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after purchasing an additional 532,318 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Occidental Petroleum by 0.3% in the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after purchasing an additional 5,200 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.