Occidental Petroleum (NYSE:OXY) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Occidental Petroleum (NYSE:OXY) posted its earnings results on Tuesday. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13, Zacks reports. Occidental Petroleum had a return on equity of 15.98% and a net margin of 15.89%.

Occidental Petroleum Trading Up 1.9 %

OXY stock traded up $0.92 during midday trading on Tuesday, hitting $48.98. 15,250,941 shares of the company’s stock were exchanged, compared to its average volume of 10,010,001. The business has a 50-day simple moving average of $48.99 and a two-hundred day simple moving average of $51.51. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $45.96 billion, a PE ratio of 12.75 and a beta of 1.55. Occidental Petroleum has a 1-year low of $45.17 and a 1-year high of $71.18.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Piper Sandler lowered their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. UBS Group lowered their price target on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Truist Financial increased their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Susquehanna lowered their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.71.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The stock was bought 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 in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 6,854,394 shares of company stock valued at $315,101,532 over the last quarter. 0.31% of the stock is owned by insiders.

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.