Occidental Petroleum (NYSE:OXY – Get Free Report) released its quarterly earnings data on Wednesday. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26, Briefing.com reports. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share.
Occidental Petroleum Trading Down 0.2 %
Occidental Petroleum stock traded down $0.12 during mid-day trading on Friday, hitting $58.41. 7,596,926 shares of the stock were exchanged, compared to its average volume of 7,989,383. The firm’s fifty day simple moving average is $60.81 and its two-hundred day simple moving average is $62.10. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. Occidental Petroleum has a 12 month low of $55.04 and a 12 month high of $71.18. The stock has a market capitalization of $51.79 billion, a price-to-earnings ratio of 15.96 and a beta of 1.61.
Occidental Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on OXY
Insiders Place Their Bets
In related news, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the completion of the purchase, the insider now directly owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders acquired 4,656,747 shares of company stock worth $278,664,028. Company insiders own 0.31% of the company’s stock.
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.
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