Wall Street analysts expect Occidental Petroleum (OXY Quick QuoteOXY - Free Report) to post quarterly earnings of $0.73 per share in its upcoming report, which indicates a year-over-year increase of 12.3%. Revenues are expected to be $7.15 billion, up 18.9% from the year-ago quarter.

The consensus EPS estimate for the quarter has been revised 28.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

That said, let's delve into the average estimates of some Occidental metrics that Wall Street analysts commonly model and monitor.

Analysts forecast 'Net sales- Oil and gas' to reach $5.71 billion. The estimate suggests a change of +16.3% year over year.

Analysts expect 'Net sales- Chemical' to come in at $1.24 billion. The estimate points to a change of +4.5% from the year-ago quarter.

Analysts predict that the 'Net sales- Midstream & marketing' will reach $429.84 million. The estimate indicates a year-over-year change of +334.2%.

The collective assessment of analysts points to an estimated 'Interest, dividends and other income' of $38.00 million. The estimate indicates a year-over-year change of +5.6%.

It is projected by analysts that the 'Revenue- Oil - United States' will reach $3.92 billion. The estimate points to a change of +17.1% from the year-ago quarter.

The combined assessment of analysts suggests that 'Revenue- NGL - United States' will likely reach $545.18 million. The estimate indicates a year-over-year change of +31.1%.

The average prediction of analysts places 'Revenue- GAS - United States' at $376.86 million. The estimate indicates a change of +101.5% from the prior-year quarter.

Based on the collective assessment of analysts, 'Revenue- Oil & Gas - United States' should arrive at $4.84 billion. The estimate points to a change of +22.4% from the year-ago quarter.

Analysts' assessment points toward 'Worldwide Sales - Total Continuing Operations Production Per Day' reaching 1,395.28 millions of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 1172 millions of barrels of oil equivalent.

The consensus estimate for 'Net Production Volumes Per Day By Commodity - Natural Gas - Total Worldwide' stands at 2,237.96 millions of cubic feet. Compared to the present estimate, the company reported 1796 millions of cubic feet in the same quarter last year.

According to the collective judgment of analysts, 'Average Realized Prices - NGLs - Total Worldwide' should come in at $24.09 per barrel of oil equivalent. Compared to the present estimate, the company reported $22.14 per barrel of oil equivalent in the same quarter last year.

The consensus among analysts is that 'Net Production Volumes Per Day By Commodity - Oil - Total Worldwide' will reach 706.54 millions of barrels of oil. Compared to the present estimate, the company reported 593 millions of barrels of oil in the same quarter last year.

View all Key Company Metrics for Occidental here>>>

Shares of Occidental have demonstrated returns of +0.2% over the past month compared to the Zacks S&P 500 composite's +11.5% change. With a Zacks Rank #3 (Hold), OXY is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>