Scotiabank Analysts Decrease Earnings Estimates for OXY

Occidental Petroleum Co. (NYSE:OXY) – Equities researchers at Scotiabank reduced their FY2026 EPS estimates for Occidental Petroleum in a research note issued on Wednesday, March 19th. Scotiabank analyst P. Cheng now anticipates that the oil and gas producer will earn $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 earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%.

Several other equities research analysts have also issued reports on the stock. StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Mizuho decreased their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Stephens restated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Finally, Piper Sandler reduced their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.45.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $47.99 on Friday. Occidental Petroleum has a fifty-two week low of $44.70 and a fifty-two week high of $71.19. The company’s 50-day moving average is $48.68 and its 200 day moving average is $50.11. 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 $45.04 billion, a P/E ratio of 19.67 and a beta of 1.51.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new position in Occidental Petroleum in the 4th quarter worth about $26,000. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum in the fourth quarter worth about $27,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $27,000. Bernard Wealth Management Corp. bought a new stake in Occidental Petroleum during the fourth quarter valued at approximately $32,000. Finally, Atala Financial Inc bought a new position in Occidental Petroleum in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by company 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 paid a $0.24 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is presently 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.