In its upcoming report, Occidental Petroleum (OXY Quick QuoteOXY - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.67 per share, reflecting a decline of 9.5% compared to the same period last year. Revenues are forecasted to be $7.14 billion, representing a year-over-year decrease of 5.2%.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 22.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

Bearing this in mind, let's now explore the average estimates of specific Occidental metrics that are commonly monitored and projected by Wall Street analysts.

The consensus among analysts is that 'Net sales- Oil and gas' will reach $5.69 billion. The estimate suggests a change of +4.9% year over year.

Analysts predict that the 'Net sales- Chemical' will reach $1.20 billion. The estimate suggests a change of -2.3% year over year.

Analysts forecast 'Net sales- Midstream & marketing' to reach $354.03 million. The estimate points to a change of -44% from the year-ago quarter.

The collective assessment of analysts points to an estimated 'Interest, dividends and other income' of $60.00 million. The estimate suggests a change of +87.5% year over year.

Analysts expect 'Revenue- Oil- United States' to come in at $4.06 billion. The estimate points to a change of +6.8% from the year-ago quarter.

It is projected by analysts that the 'Revenue- NGL- United States' will reach $555.66 million. The estimate indicates a change of +43.2% from the prior-year quarter.

The consensus estimate for 'Revenue- GAS- United States' stands at $181.18 million. The estimate points to a change of -22.2% from the year-ago quarter.

Analysts' assessment points toward 'Revenue- Oil & Gas- United States' reaching $4.80 billion. The estimate points to a change of +8.4% from the year-ago quarter.

The average prediction of analysts places 'Worldwide Sales - Total Continuing Operations Production Per Day' at 1,452.76 millions of barrels of oil equivalent. Compared to the present estimate, the company reported 1234 millions of barrels of oil equivalent in the same quarter last year.

Based on the collective assessment of analysts, 'Net Production Volumes Per Day By Commodity-Natural Gas - Total Worldwide' should arrive at 2,207.23 millions of cubic feet. The estimate compares to the year-ago value of 1872 millions of cubic feet.

According to the collective judgment of analysts, 'Net Production Volumes Per Day By Commodity - Oil - Total Worldwide' should come in at 737.21 millions of barrels of oil. The estimate compares to the year-ago value of 638 millions of barrels of oil.

The combined assessment of analysts suggests that 'Average Realized Prices - NGLs - Total Worldwide' will likely reach $20.61 per barrel of oil equivalent. The estimate is in contrast to the year-ago figure of $20.93 per barrel of oil equivalent.

View all Key Company Metrics for Occidental here>>>

Over the past month, Occidental shares have recorded returns of -8.5% versus the Zacks S&P 500 composite's +4.9% change. Based on its Zacks Rank #3 (Hold), OXY will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>