Scotiabank Expects Weaker Earnings for Occidental Petroleum

Occidental Petroleum Co. (NYSE:OXY) – Stock analysts at Scotiabank cut their FY2026 earnings estimates for shares of Occidental Petroleum in a report released on Wednesday, March 19th. Scotiabank analyst P. Cheng now forecasts that the oil and gas producer will post earnings of $3.70 per share for the year, down from their previous forecast of $3.90. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.58 per share.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%.

A number of other brokerages have also commented on OXY. Piper Sandler decreased their price target on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Truist Financial increased their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Roth Capital set a $54.00 price target on Occidental Petroleum in a research note on Thursday, January 23rd. UBS Group increased their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.45.

Occidental Petroleum Trading Up 0.3 %

Shares of Occidental Petroleum stock opened at $48.11 on Friday. Occidental Petroleum has a 1 year low of $44.70 and a 1 year high of $71.19. The company has a market capitalization of $45.15 billion, a price-to-earnings ratio of 19.72 and a beta of 1.51. The business has a fifty day simple moving average of $48.61 and a two-hundred day simple moving average of $50.04. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. Occidental Petroleum’s dividend payout ratio is 39.34%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Occidental Petroleum by 25.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 95,888 shares of the oil and gas producer’s stock valued at $4,738,000 after acquiring an additional 19,734 shares in the last quarter. PKO Investment Management Joint Stock Co acquired a new position in Occidental Petroleum during the fourth quarter worth $1,144,000. Northstar Financial Companies Inc. bought a new position in shares of Occidental Petroleum in the fourth quarter valued at $486,000. Siemens Fonds Invest GmbH raised its holdings in shares of Occidental Petroleum by 30.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 43,293 shares of the oil and gas producer’s stock worth $2,139,000 after acquiring an additional 10,003 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Occidental Petroleum in the 4th quarter valued at about $8,284,000. 88.70% of the stock is currently owned by institutional investors.

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.