Shares of Occidental Petroleum (NYSE:OXY) are little changed in after-hours trading after the oil company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $0.74, which beat analysts’ consensus estimate of $0.67 per share.
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Sales decreased by 9.6% year-over-year, with revenue hitting $7.53 billion. This beat analysts’ expectations by $660 million.
The firm also exceeded its mid-point production guidance by 8 thousand barrels of oil equivalent per day (Mboed), reaching a total of 1,234 Mboed.
Is OXY a Buy or Sell Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on OXY stock based on six Buys, seven Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After an 8% drop in its share price over the past year, the average OXY price target of $68.42 per share implies 19.41% upside potential.
