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

Occidental Petroleum (NYSE:OXY) released its earnings results on Tuesday. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Stock Performance

OXY stock traded up $0.92 during trading on Tuesday, hitting $48.98. The company had a trading volume of 15,250,941 shares, compared to its average volume of 10,010,001. The firm has a market cap 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. The firm has a 50-day moving average price of $48.99 and a 200-day moving average price of $51.51. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the transaction, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have purchased 6,854,394 shares of company stock worth $315,101,532 in the last quarter. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OXY shares. UBS Group decreased their target price on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Wells Fargo & Company decreased their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Truist Financial lifted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. TD Cowen decreased their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Stephens boosted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.71.

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.