What is Scotiabank’s Forecast for OXY FY2025 Earnings?

Occidental Petroleum Co. (NYSE:OXY) – Stock analysts at Scotiabank decreased their FY2025 earnings per share (EPS) estimates for shares of Occidental Petroleum in a note issued to investors on Wednesday, March 19th. Scotiabank analyst P. Cheng now anticipates that the oil and gas producer will post earnings per share of $2.85 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 issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%.

Several other brokerages have also issued reports on OXY. JPMorgan Chase & Co. cut their price target on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Truist Financial lifted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $54.00 to $45.00 in a research note on Friday, January 31st. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Finally, Piper Sandler dropped 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 report on Thursday, March 6th. 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 company’s stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $60.45.

Occidental Petroleum Stock Up 2.4 %

Occidental Petroleum stock opened at $49.05 on Monday. The company has a market capitalization of $46.03 billion, a PE ratio of 20.10 and a beta of 1.51. Occidental Petroleum has a 12-month low of $44.70 and a 12-month high of $71.19. The firm’s fifty day moving average is $48.45 and its 200 day moving average is $49.91. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Certified Advisory Corp purchased a new stake in shares of Occidental Petroleum in the 4th 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 boosted its position in Occidental Petroleum by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock valued at $30,320,000 after acquiring an additional 6,461 shares in the last quarter. Sarasin & Partners LLP grew its holdings in shares of Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after acquiring an additional 50,983 shares during the period. Finally, Weiss Asset Management LP bought a new position in shares of Occidental Petroleum in the 3rd quarter worth approximately $2,509,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

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.