We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Occidental (OXY) to Report Q2 Earnings: What's in Store?
Read MoreHide Full Article
Occidental Petroleum Corporation (OXY - Free Report) is scheduled to release second-quarter 2021 results on Aug 3. In the last reported quarter, the company delivered an earnings surprise of 54.6%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Occidental’s second-quarter earnings are expected to have been driven by strong production from domestic assets. The company’s second-quarter results will likely get a boost from contribution from the Dolphin Pipeline project and AI Hosn gas processing plants.
Second-quarter earnings are also expected to have benefited from proper debt management through repayment and refinancing, which in turn are likely to have reduced capital servicing expenses of the company. Occidental is likely to have gained from cost-management initiatives.
Expectations
The Zacks Consensus Estimate for second-quarter production is pegged at 1,163 thousand barrels of oil equivalent (MBOE) per day. The company expects production in the range of 1,140-1,170 MBOE/d and output from Permian Resources within 490-500 MBOE/d.
The Zacks Consensus Estimate for the bottom line for the second quarter is pegged at a loss of 1 cent per share, indicating a 99.43% improvement from the prior-year loss.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Occidental this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is the case here as you see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Occidental Petroleum Corporation Price and EPS Surprise
Earnings ESP: The company’s Earnings ESP is +177.89%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Occidental currently carries a Zacks Rank #3.
Other Stocks to Consider
Here are a few other companies in the same industry that too have the right combination of elements to beat on earnings in the upcoming releases.
Berry Corporation (BRY - Free Report) is likely to release second-quarter 2021 results on Aug 3. It has an Earnings ESP of +14.29% and sports a Zacks Rank #1.
PHX Minerals Inc. (PHX - Free Report) is likely to release fiscal third-quarter 2021 results on Aug 5. It has an Earnings ESP of +50% and sports a Zacks Rank #1.
Rattler Midstream LP is likely to release second-quarter 2021 results on Aug 5. It has an Earnings ESP of +7.41% and has a Zacks Rank #3.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Occidental (OXY) to Report Q2 Earnings: What's in Store?
Occidental Petroleum Corporation (OXY - Free Report) is scheduled to release second-quarter 2021 results on Aug 3. In the last reported quarter, the company delivered an earnings surprise of 54.6%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Occidental’s second-quarter earnings are expected to have been driven by strong production from domestic assets. The company’s second-quarter results will likely get a boost from contribution from the Dolphin Pipeline project and AI Hosn gas processing plants.
Second-quarter earnings are also expected to have benefited from proper debt management through repayment and refinancing, which in turn are likely to have reduced capital servicing expenses of the company. Occidental is likely to have gained from cost-management initiatives.
Expectations
The Zacks Consensus Estimate for second-quarter production is pegged at 1,163 thousand barrels of oil equivalent (MBOE) per day. The company expects production in the range of 1,140-1,170 MBOE/d and output from Permian Resources within 490-500 MBOE/d.
The Zacks Consensus Estimate for the bottom line for the second quarter is pegged at a loss of 1 cent per share, indicating a 99.43% improvement from the prior-year loss.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Occidental this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is the case here as you see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Occidental Petroleum Corporation Price and EPS Surprise
Occidental Petroleum Corporation price-eps-surprise | Occidental Petroleum Corporation Quote
Earnings ESP: The company’s Earnings ESP is +177.89%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Occidental currently carries a Zacks Rank #3.
Other Stocks to Consider
Here are a few other companies in the same industry that too have the right combination of elements to beat on earnings in the upcoming releases.
Berry Corporation (BRY - Free Report) is likely to release second-quarter 2021 results on Aug 3. It has an Earnings ESP of +14.29% and sports a Zacks Rank #1.
PHX Minerals Inc. (PHX - Free Report) is likely to release fiscal third-quarter 2021 results on Aug 5. It has an Earnings ESP of +50% and sports a Zacks Rank #1.
Rattler Midstream LP is likely to release second-quarter 2021 results on Aug 5. It has an Earnings ESP of +7.41% and has a Zacks Rank #3.