Scotiabank Has Negative Forecast for OXY FY2025 Earnings

Occidental Petroleum Co. (NYSE:OXY) – Investment analysts at Scotiabank lowered their FY2025 earnings estimates for shares of Occidental Petroleum in a research note issued on Wednesday, March 19th. Scotiabank analyst P. Cheng now anticipates that the oil and gas producer will post earnings of $2.85 per share for the year, down from their prior estimate of $3.40. The consensus estimate for Occidental Petroleum’s current full-year earnings is $3.58 per share.

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

A number of other research firms also recently issued reports on OXY. Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Raymond James downgraded shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Finally, Citigroup lowered their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.45.

Occidental Petroleum Stock Performance

NYSE OXY opened at $48.11 on Monday. Occidental Petroleum has a 52-week low of $44.70 and a 52-week high of $71.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The company has a market capitalization of $45.15 billion, a P/E ratio of 19.72 and a beta of 1.51. The company has a fifty day moving average of $48.61 and a 200-day moving average of $49.98.

Hedge Funds Weigh In On Occidental Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Certified Advisory Corp purchased a new stake in Occidental Petroleum in the fourth quarter worth about $476,000. Rule One Partners LLC purchased a new stake in Occidental Petroleum in the third quarter worth about $14,199,000. Fisher Asset Management LLC grew its holdings in Occidental Petroleum by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock worth $30,320,000 after purchasing an additional 6,461 shares during the period. Sarasin & Partners LLP grew its holdings in Occidental Petroleum by 5.4% in the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after purchasing an additional 50,983 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in Occidental Petroleum in the third quarter worth about $2,509,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Increases Dividend

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

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.