Zacks: Brokerages Anticipate Occidental Petroleum Co. (OXY) Will Announce Quarterly Sales of $4.08 B

Analysts predict that Occidental Petroleum Co. (NYSE:OXY) will report sales of $4.08 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Occidental Petroleum’s earnings, with the lowest sales estimate coming in at $3.99 billion and the highest estimate coming in at $4.18 billion. Occidental Petroleum reported sales of $3.60 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The company is expected to announce its next quarterly earnings report on Wednesday, August 1st.

On average, analysts expect that Occidental Petroleum will report full-year sales of $16.56 billion for the current year, with estimates ranging from $15.83 billion to $17.28 billion. For the next financial year, analysts expect that the firm will report sales of $17.85 billion per share, with estimates ranging from $16.99 billion to $18.71 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Occidental Petroleum.

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Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.21. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.63 billion. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. Occidental Petroleum’s revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS.

OXY has been the topic of a number of analyst reports. Piper Jaffray Companies raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $77.00 to $86.00 in a research note on Sunday, April 15th. Deutsche Bank raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Friday, March 23rd. ValuEngine cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Citigroup raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 5th. Finally, JPMorgan Chase & Co. dropped their price target on Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, April 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $81.13.

Shares of Occidental Petroleum opened at $83.33 on Friday, according to MarketBeat.com. The stock has a market capitalization of $62.86 billion, a P/E ratio of 93.63, a P/E/G ratio of 2.88 and a beta of 0.62. Occidental Petroleum has a 1-year low of $57.84 and a 1-year high of $87.67. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.26.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 11th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 8th. This represents a $3.08 annualized dividend and a dividend yield of 3.70%. Occidental Petroleum’s dividend payout ratio is 346.07%.

Institutional investors have recently made changes to their positions in the company. Stelac Advisory Services LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $112,000. Bedel Financial Consulting Inc. acquired a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $114,000. Silvant Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $141,000. AdvisorNet Financial Inc lifted its holdings in shares of Occidental Petroleum by 192.2% during the 1st quarter. AdvisorNet Financial Inc now owns 2,580 shares of the oil and gas producer’s stock valued at $168,000 after buying an additional 1,697 shares during the last quarter. Finally, Good Life Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $203,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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C&J Energy Services (CJ) Stock Price Up 5.7%

Shares of C&J Energy Services Inc (NYSE:CJ) rose 5.7% on Friday . The company traded as high as $24.45 and last traded at $24.25. Approximately 3,274,500 shares traded hands during trading, an increase of 196% from the average daily volume of 1,105,209 shares. The stock had previously closed at $22.95.

A number of brokerages have recently commented on CJ. ValuEngine upgraded shares of C&J Energy Services from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st. Zacks Investment Research lowered shares of C&J Energy Services from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Morgan Stanley cut their price target on shares of C&J Energy Services from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 11th. Citigroup lifted their price target on shares of C&J Energy Services from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, May 8th. Finally, Piper Jaffray Companies set a $35.00 price target on shares of C&J Energy Services and gave the stock a “buy” rating in a report on Tuesday, April 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.75.

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The firm has a market cap of $1.66 billion, a PE ratio of -173.21 and a beta of 0.90.

C&J Energy Services (NYSE:CJ) last released its earnings results on Thursday, May 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $553.00 million for the quarter, compared to analyst estimates of $538.14 million. C&J Energy Services had a net margin of 4.01% and a return on equity of 4.72%. The company’s revenue was up 76.0% on a year-over-year basis. sell-side analysts expect that C&J Energy Services Inc will post 2.98 earnings per share for the current year.

In related news, insider Tim Wallace sold 1,500 shares of the business’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $25.15, for a total value of $37,725.00. Following the transaction, the insider now owns 23,360 shares in the company, valued at $587,504. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.05% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CJ. Citadel Advisors LLC raised its holdings in shares of C&J Energy Services by 118.5% during the first quarter. Citadel Advisors LLC now owns 2,606,573 shares of the company’s stock valued at $67,302,000 after purchasing an additional 1,413,368 shares during the period. Millennium Management LLC raised its holdings in shares of C&J Energy Services by 1,427.2% during the first quarter. Millennium Management LLC now owns 1,424,834 shares of the company’s stock valued at $36,789,000 after purchasing an additional 1,331,537 shares during the period. Van ECK Associates Corp acquired a new position in shares of C&J Energy Services during the first quarter valued at about $32,303,000. Point72 Asset Management L.P. raised its holdings in shares of C&J Energy Services by 347.5% during the first quarter. Point72 Asset Management L.P. now owns 1,296,590 shares of the company’s stock valued at $33,478,000 after purchasing an additional 1,006,878 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of C&J Energy Services by 13.5% during the fourth quarter. BlackRock Inc. now owns 4,500,188 shares of the company’s stock valued at $150,624,000 after purchasing an additional 535,243 shares during the period. Hedge funds and other institutional investors own 98.03% of the company’s stock.

C&J Energy Services Company Profile

C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments. The Completion Services segment provides hydraulic fracturing; cased-hole solutions comprising cased-hole wireline, pumpdown, wireline logging, perforating, pressure pumping, well site make-up and pressure testing, and other complementary services; and well construction and intervention services, which include cementing, coiled tubing, and directional drilling services.

BlackRock Inc. Grows Holdings in Kaiser Aluminum Corp. (KALU)

BlackRock Inc. raised its stake in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,183,720 shares of the industrial products company’s stock after purchasing an additional 30,723 shares during the period. BlackRock Inc. owned 13.03% of Kaiser Aluminum worth $220,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KALU. Flinton Capital Management LLC raised its position in shares of Kaiser Aluminum by 26.2% during the 4th quarter. Flinton Capital Management LLC now owns 2,788 shares of the industrial products company’s stock valued at $298,000 after buying an additional 578 shares in the last quarter. Sei Investments Co. raised its position in shares of Kaiser Aluminum by 1.2% during the 4th quarter. Sei Investments Co. now owns 49,842 shares of the industrial products company’s stock valued at $5,326,000 after buying an additional 612 shares in the last quarter. Swiss National Bank raised its position in shares of Kaiser Aluminum by 2.8% during the 1st quarter. Swiss National Bank now owns 29,500 shares of the industrial products company’s stock valued at $2,977,000 after buying an additional 800 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Kaiser Aluminum by 47.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,613 shares of the industrial products company’s stock valued at $264,000 after buying an additional 838 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Kaiser Aluminum by 0.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 138,414 shares of the industrial products company’s stock valued at $13,966,000 after buying an additional 1,194 shares in the last quarter.

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Several brokerages have recently issued reports on KALU. JPMorgan Chase & Co. upped their target price on shares of Kaiser Aluminum from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday. Zacks Investment Research cut shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. TheStreet upgraded shares of Kaiser Aluminum from a “c+” rating to a “b+” rating in a research report on Wednesday, April 25th. BidaskClub raised shares of Kaiser Aluminum from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. Finally, Goldman Sachs Group started coverage on shares of Kaiser Aluminum in a research report on Tuesday, March 20th. They issued a “neutral” rating and a $111.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $102.00.

In other news, VP Neal E. West sold 2,175 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $110.00, for a total transaction of $239,250.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jack A. Hockema sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $108.64, for a total transaction of $977,760.00. The disclosure for this sale can be found here. Insiders sold a total of 20,400 shares of company stock worth $2,242,630 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Kaiser Aluminum opened at $113.50 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.74 and a current ratio of 3.70. Kaiser Aluminum Corp. has a 1-year low of $83.77 and a 1-year high of $116.86. The stock has a market capitalization of $1.90 billion, a P/E ratio of 22.30, a PEG ratio of 1.16 and a beta of 0.65.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.06. Kaiser Aluminum had a net margin of 2.45% and a return on equity of 11.60%. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $392.66 million. During the same period in the prior year, the company posted $1.52 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. sell-side analysts expect that Kaiser Aluminum Corp. will post 6.51 EPS for the current fiscal year.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

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