Oil and gas producer Occidental Petroleum (NYE:OXY) is expected to post Q1 2023 earnings of $1.43 per share, according to Capital One Financial. The figure is up from the analysts’ prior forecast of $1.28, and the consensus estimate for OXY’s current full-year earnings is $6.12 per share. The firm’s revenue for Q4 2023 is expected to be $1.52 EPS. In February 2023, OXY reported quarterly earnings of $1.61 per share, missing the consensus estimate of $1.83 per share. Despite two sell ratings on OXY’s stock, StockTargetAdvisor.com’s average rating of “Hold” and average price target of $75.72 reflect two strong buys, seven buys, and ten holds. As of March 15, the firm’s shares were trading at $60.19, up 1.8%. Occidental Petroleum will also pay a quarterly dividend of $0.18 on April 17th to shareholders of record as of March 10th. Insiders from Berkshire Hathaway purchased 1,678,017 OXY shares in a recent transaction. Hedge funds, including Orion Capital Management, Hanseatic Management Services, Resurgent Financial Advisors, and Selway Asset Management, have recently increased their stakes in the stock.
Occidental Petroleum Stock Analysis
According to the predictions of 17 analysts, the average target price for Occidental Petroleum Corporation’s stock is expected to reach USD 73.79 within the next 12 months, indicating a Buy rating by these analysts. However, Stock Target Advisor’s own analysis suggests a Slightly Bearish outlook based on 4 positive and 7 negative signals. As of the last closing, Occidental Petroleum Corporation’s stock price was USD 60.19, which represents a -1.08% change in the past week, a -9.27% change in the past month, and a +8.27% change over the last year.
Company Overview
Occidental Petroleum Corporation is a company and its subsidiaries that focus on the acquisition, exploration, and development of oil and gas properties in various regions around the world, including the United States, the Middle East, North Africa, and Latin America. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment is responsible for exploring, developing, and producing oil and condensate, natural gas liquids (NGLs), and natural gas. The Chemical segment produces and sells basic chemicals, such as chlorine, caustic soda, and vinyls. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. The company is headquartered in Houston, Texas and was founded in 1920.
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