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Company Update (NYSE:OXY): Occidental Petroleum 1st Quarter Results to Be Announced Thursday, May 5, 2016

[Business Wire] – Occidental Petroleum Corporation will hold a conference call on Thursday, May 5, 2016, at 11 a.m. Eastern, following the release of its first quarter 2016 financial results. Read more on this. Occidental Petroleum Corporation (OXY) , valued at $52.08B, started trading this morning at $68.47. Looking at today’s trading action, the company’s one day range from $67.77 to $69.12 and has traded between $58.24 and $82.06 over the past year. OXY shares are currently priced at -139.18x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 0.04x earnings multiple for the same period. The company pays shareholders $3.00 per share annually in dividends, yielding 4.40%. According to a consensus of 21 analysts, the earnings estimate of $-0.31 per share would be $0.04 better than the year-ago quarter and a $0.04 sequential increase. The full-year EPS estimate is $-0.49 which would be a $0.61 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.49 Billion. If realized, that would be a 19.68% decrease over the year-ago quarter. In terms of ratings, Jefferies downgraded OXY from Buy to Hold (Jan 12, 2016). Previously, Iberia downgraded OXY from Outperform to Sector Perform. With the above information in mind, readers should note that the average price target is $73.46, which is 7.29% above where the stock opened this morning. See more in (NYSE:OXY) Similar Articles: Company Update: Occidental Petroleum Corporation (NYSE:OXY) – Occidental Petroleum Announces 4th Quarter 2015 Results Company Update: Occidental Petroleum Corporation (NYSE:OXY) – Occidental Petroleum Announces 3rd Quarter 2015 Results Market Update (NYSE:OXY): Occidental Petroleum 3rd Quarter 2015 Results to be Announced Wednesday, October 28, 2015
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