Occidental Petroleum (OXY - Free Report) reported $6.73 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 37.3%. EPS of $0.68 for the same period compares to $3.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.8 billion, representing a surprise of -0.95%. The company delivered an EPS surprise of -2.86%, with the consensus EPS estimate being $0.70.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Occidental performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Worldwide Sales - Total Continuing Operations Production Per Day: 1218 MBOE/D versus 1179.04 MBOE/D estimated by eight analysts on average.
- Average Realized Prices - Natural Gas - Total Worldwide: $1.5 per thousand cubic feet versus the seven-analyst average estimate of $1.55 per thousand cubic feet.
- Net Production Volumes Per Day By Commodity - Oil - Total Worldwide: 628 MBBL/D versus 616.28 MBBL/D estimated by six analysts on average.
- Average Realized Prices - NGLs - Total Worldwide: $19.08 per barrel of oil equivalent versus $20.74 per barrel of oil equivalent estimated by six analysts on average.
- Net Production Volumes Per Day By Commodity-Natural Gas - Total Worldwide: 1819 MMcf/D versus 1769.75 MMcf/D estimated by six analysts on average.
- Average Realized Prices - Oil - Total Worldwide: $73.59 per barrel versus the six-analyst average estimate of $72.65 per barrel.
- Average Realized Prices - NGLs - International: $28.45 per barrel versus $27.12 per barrel estimated by three analysts on average.
- Net Production Volumes Per Day By Commodity - NGLs - United States: 251 MBBL/D compared to the 230.62 MBBL/D average estimate based on three analysts.
- Net sales- Oil and gas: $4.94 billion versus $4.82 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -35.8% change.
- Net sales- Eliminations: -$230 million versus the four-analyst average estimate of -$308.01 million. The reported number represents a year-over-year change of -42.9%.
- Net sales- Midstream & marketing: $616 million versus $1.03 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -58.2% change.
- Net sales- Chemical: $1.38 billion versus the four-analyst average estimate of $1.39 billion. The reported number represents a year-over-year change of -28%.
View all Key Company Metrics for Occidental here>>>Shares of Occidental have returned +5.8% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Occidental Petroleum (OXY - Free Report) reported $6.73 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 37.3%. EPS of $0.68 for the same period compares to $3.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.8 billion, representing a surprise of -0.95%. The company delivered an EPS surprise of -2.86%, with the consensus EPS estimate being $0.70.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Occidental performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Worldwide Sales - Total Continuing Operations Production Per Day: 1218 MBOE/D versus 1179.04 MBOE/D estimated by eight analysts on average.
- Average Realized Prices - Natural Gas - Total Worldwide: $1.5 per thousand cubic feet versus the seven-analyst average estimate of $1.55 per thousand cubic feet.
- Net Production Volumes Per Day By Commodity - Oil - Total Worldwide: 628 MBBL/D versus 616.28 MBBL/D estimated by six analysts on average.
- Average Realized Prices - NGLs - Total Worldwide: $19.08 per barrel of oil equivalent versus $20.74 per barrel of oil equivalent estimated by six analysts on average.
- Net Production Volumes Per Day By Commodity-Natural Gas - Total Worldwide: 1819 MMcf/D versus 1769.75 MMcf/D estimated by six analysts on average.
- Average Realized Prices - Oil - Total Worldwide: $73.59 per barrel versus the six-analyst average estimate of $72.65 per barrel.
- Average Realized Prices - NGLs - International: $28.45 per barrel versus $27.12 per barrel estimated by three analysts on average.
- Net Production Volumes Per Day By Commodity - NGLs - United States: 251 MBBL/D compared to the 230.62 MBBL/D average estimate based on three analysts.
- Net sales- Oil and gas: $4.94 billion versus $4.82 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -35.8% change.
- Net sales- Eliminations: -$230 million versus the four-analyst average estimate of -$308.01 million. The reported number represents a year-over-year change of -42.9%.
- Net sales- Midstream & marketing: $616 million versus $1.03 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -58.2% change.
- Net sales- Chemical: $1.38 billion versus the four-analyst average estimate of $1.39 billion. The reported number represents a year-over-year change of -28%.
View all Key Company Metrics for Occidental here>>>Shares of Occidental have returned +5.8% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on OXY - FREE