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Compared to Estimates, Occidental (OXY) Q4 Earnings: A Look at Key Metrics
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For the quarter ended December 2023, Occidental Petroleum (OXY - Free Report) reported revenue of $7.53 billion, down 9.6% over the same period last year. EPS came in at $0.74, compared to $1.61 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.14 billion, representing a surprise of +5.47%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.74.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 1234 millions of barrels of oil equivalent versus the eight-analyst average estimate of 1222.74 millions of barrels of oil equivalent.
Average Realized Prices - Natural Gas - Total Worldwide: $1.88 per thousand cubic feet versus the seven-analyst average estimate of $2.06 per thousand cubic feet.
Net Production Volumes Per Day By Commodity - Oil - Total Worldwide: 638 millions of barrels of oil compared to the 637.04 millions of barrels of oil average estimate based on six analysts.
Average Realized Prices - NGLs - Total Worldwide: $20.93 per barrel of oil equivalent compared to the $21 per barrel of oil equivalent average estimate based on six analysts.
Net Production Volumes Per Day By Commodity-Natural Gas - Total Worldwide: 1872 millions of cubic feet versus the six-analyst average estimate of 1818.7 millions of cubic feet.
Average Realized Prices - Oil - Total Worldwide: $78.85 per barrel versus $77.88 per barrel estimated by six analysts on average.
Average Realized Prices - NGLs - International: $30.18 per barrel compared to the $30.13 per barrel average estimate based on three analysts.
Net sales- Oil and gas: $5.42 billion versus the four-analyst average estimate of $5.43 billion. The reported number represents a year-over-year change of -13.9%.
Net sales- Chemical: $1.23 billion versus $1.27 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -16.4% change.
Net sales- Midstream & marketing: $632 million compared to the $648.69 million average estimate based on four analysts. The reported number represents a change of -18.5% year over year.
Net sales- Eliminations: -$116 million versus -$314.96 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -64.3% change.
Interest, dividends and other income: $32 million compared to the $50 million average estimate based on two analysts.
Shares of Occidental have returned +1.8% over the past month versus the Zacks S&P 500 composite's +3.7% 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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Compared to Estimates, Occidental (OXY) Q4 Earnings: A Look at Key Metrics
For the quarter ended December 2023, Occidental Petroleum (OXY - Free Report) reported revenue of $7.53 billion, down 9.6% over the same period last year. EPS came in at $0.74, compared to $1.61 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.14 billion, representing a surprise of +5.47%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.74.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 1234 millions of barrels of oil equivalent versus the eight-analyst average estimate of 1222.74 millions of barrels of oil equivalent.
- Average Realized Prices - Natural Gas - Total Worldwide: $1.88 per thousand cubic feet versus the seven-analyst average estimate of $2.06 per thousand cubic feet.
- Net Production Volumes Per Day By Commodity - Oil - Total Worldwide: 638 millions of barrels of oil compared to the 637.04 millions of barrels of oil average estimate based on six analysts.
- Average Realized Prices - NGLs - Total Worldwide: $20.93 per barrel of oil equivalent compared to the $21 per barrel of oil equivalent average estimate based on six analysts.
- Net Production Volumes Per Day By Commodity-Natural Gas - Total Worldwide: 1872 millions of cubic feet versus the six-analyst average estimate of 1818.7 millions of cubic feet.
- Average Realized Prices - Oil - Total Worldwide: $78.85 per barrel versus $77.88 per barrel estimated by six analysts on average.
- Average Realized Prices - NGLs - International: $30.18 per barrel compared to the $30.13 per barrel average estimate based on three analysts.
- Net sales- Oil and gas: $5.42 billion versus the four-analyst average estimate of $5.43 billion. The reported number represents a year-over-year change of -13.9%.
- Net sales- Chemical: $1.23 billion versus $1.27 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -16.4% change.
- Net sales- Midstream & marketing: $632 million compared to the $648.69 million average estimate based on four analysts. The reported number represents a change of -18.5% year over year.
- Net sales- Eliminations: -$116 million versus -$314.96 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -64.3% change.
- Interest, dividends and other income: $32 million compared to the $50 million average estimate based on two analysts.
View all Key Company Metrics for Occidental here>>>Shares of Occidental have returned +1.8% over the past month versus the Zacks S&P 500 composite's +3.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.