Occidental Petroleum Corporation (OXY) to Post FY2017 Earnings of $1.09 Per Share, CLSA Forecasts

Occidental Petroleum Corporation (NYSE:OXY) – CLSA lifted their FY2017 earnings per share estimates for Occidental Petroleum Corporation in a report released on Thursday. CLSA analyst A. Sen now expects that the firm will post earnings of $1.09 per share for the year, up from their previous estimate of $1.06.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Thursday, February 9th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.10. Occidental Petroleum Corporation had a negative return on equity of 3.40% and a negative net margin of 5.52%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The company’s revenue was down .6% on a year-over-year basis.

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Earnings History and Estimates for Occidental Petroleum Corporation (NYSE:OXY)

Several other equities analysts have also recently issued reports on OXY. Goldman Sachs Group, Inc. (The) upgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “neutral” rating and set a $75.00 price target for the company in a research report on Friday, December 16th. Bank of America Corporation cut shares of Occidental Petroleum Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 4th. BMO Capital Markets cut shares of Occidental Petroleum Corporation from an “outperform” rating to a “market perform” rating and set a $70.00 price target for the company. in a research report on Wednesday, January 11th. They noted that the move was a valuation call. Wells Fargo & Company restated an “outperform” rating on shares of Occidental Petroleum Corporation in a research report on Saturday, January 14th. Finally, Barclays PLC decreased their price target on shares of Occidental Petroleum Corporation from $63.00 to $62.00 and set an “underweight” rating for the company in a research report on Thursday, January 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $74.26.

Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 68.47 on Monday. The company’s 50 day moving average is $69.37 and its 200-day moving average is $71.78. Occidental Petroleum Corporation has a one year low of $64.37 and a one year high of $78.48. The firm’s market capitalization is $52.32 billion.

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in Occidental Petroleum Corporation by 2.9% in the fourth quarter. State Street Corp now owns 38,952,153 shares of the company’s stock worth $2,775,998,000 after buying an additional 1,100,280 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Occidental Petroleum Corporation by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 20,633,733 shares of the company’s stock worth $1,504,612,000 after buying an additional 475,496 shares during the period. BlackRock Fund Advisors increased its position in Occidental Petroleum Corporation by 2.8% in the third quarter. BlackRock Fund Advisors now owns 16,350,050 shares of the company’s stock worth $1,192,246,000 after buying an additional 446,361 shares during the period. Northern Trust Corp increased its position in Occidental Petroleum Corporation by 2.4% in the third quarter. Northern Trust Corp now owns 10,502,664 shares of the company’s stock worth $765,854,000 after buying an additional 242,646 shares during the period. Finally, Macquarie Group Ltd. increased its position in Occidental Petroleum Corporation by 0.8% in the second quarter. Macquarie Group Ltd. now owns 9,505,449 shares of the company’s stock worth $718,232,000 after buying an additional 70,978 shares during the period. Institutional investors and hedge funds own 81.82% of the company’s stock.

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In other news, Director Stephen I. Chazen sold 2,000 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $69.12, for a total value of $138,240.00. Following the completion of the sale, the director now owns 1,581,619 shares in the company, valued at $109,321,505.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $68.31, for a total transaction of $273,240.00. Following the completion of the sale, the director now owns 1,585,619 shares of the company’s stock, valued at approximately $108,313,633.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,000 shares of company stock valued at $3,627,780. 0.35% of the stock is currently owned by corporate insiders.

About Occidental Petroleum Corporation

Occidental Petroleum Corporation is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

5 Day Chart for NYSE:OXY

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