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Occidental (OXY) Q4 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
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Analysts on Wall Street project that Occidental Petroleum (OXY - Free Report) will announce quarterly earnings of $0.19 per share in its forthcoming report, representing a decline of 76.3% year over year. Revenues are projected to reach $5.88 billion, declining 14% from the same quarter last year.
The current level reflects a downward revision of 42.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link 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.
Given this perspective, it's time to examine the average forecasts of specific Occidental metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Net sales- Oil and gas' at $4.93 billion. The estimate indicates a year-over-year change of -12.3%.
Based on the collective assessment of analysts, 'Net sales- Midstream & marketing' should arrive at $359.46 million. The estimate indicates a change of +154.9% from the prior-year quarter.
Analysts' assessment points toward 'Net sales- Chemical' reaching $941.78 million. The estimate points to a change of -22.6% from the year-ago quarter.
The consensus estimate for 'Interest, dividends and other income' stands at $54.50 million. The estimate indicates a year-over-year change of +32.9%.
Analysts expect 'Revenue- Oil- United States' to come in at $3.52 billion. The estimate indicates a year-over-year change of -12.8%.
The collective assessment of analysts points to an estimated 'Revenue- NGL- United States' of $454.04 million. The estimate suggests a change of -17.6% year over year.
Analysts predict that the 'Revenue- GAS- United States' will reach $240.08 million. The estimate points to a change of +20% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenue- Oil & Gas- United States' will likely reach $4.20 billion. The estimate indicates a change of -11.7% from the prior-year quarter.
It is projected by analysts that the 'Worldwide Sales - Total Continuing Operations Production Per Day' will reach 1,463.94 thousands of barrels of oil equivalent per day. Compared to the present estimate, the company reported 1,463.00 thousands of barrels of oil equivalent per day in the same quarter last year.
The consensus among analysts is that 'Net Production Volumes Per Day By Commodity - Oil - Total Worldwide' will reach 749.09 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 736.00 thousands of barrels of oil per day.
Analysts forecast 'Average Realized Prices - Oil - Total Worldwide' to reach 60 dollars per barrel. Compared to the present estimate, the company reported 70 dollars per barrel in the same quarter last year.
According to the collective judgment of analysts, 'Average Realized Prices - NGLs - Total Worldwide' should come in at 17 dollars per barrel of oil equivalent. The estimate compares to the year-ago value of 22 dollars per barrel of oil equivalent.
Over the past month, Occidental shares have recorded returns of +6.6% versus the Zacks S&P 500 composite's -0.3% change. Based on its Zacks Rank #4 (Sell), OXY will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Occidental (OXY) Q4 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
Analysts on Wall Street project that Occidental Petroleum (OXY - Free Report) will announce quarterly earnings of $0.19 per share in its forthcoming report, representing a decline of 76.3% year over year. Revenues are projected to reach $5.88 billion, declining 14% from the same quarter last year.
The current level reflects a downward revision of 42.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link 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.
Given this perspective, it's time to examine the average forecasts of specific Occidental metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Net sales- Oil and gas' at $4.93 billion. The estimate indicates a year-over-year change of -12.3%.
Based on the collective assessment of analysts, 'Net sales- Midstream & marketing' should arrive at $359.46 million. The estimate indicates a change of +154.9% from the prior-year quarter.
Analysts' assessment points toward 'Net sales- Chemical' reaching $941.78 million. The estimate points to a change of -22.6% from the year-ago quarter.
The consensus estimate for 'Interest, dividends and other income' stands at $54.50 million. The estimate indicates a year-over-year change of +32.9%.
Analysts expect 'Revenue- Oil- United States' to come in at $3.52 billion. The estimate indicates a year-over-year change of -12.8%.
The collective assessment of analysts points to an estimated 'Revenue- NGL- United States' of $454.04 million. The estimate suggests a change of -17.6% year over year.
Analysts predict that the 'Revenue- GAS- United States' will reach $240.08 million. The estimate points to a change of +20% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenue- Oil & Gas- United States' will likely reach $4.20 billion. The estimate indicates a change of -11.7% from the prior-year quarter.
It is projected by analysts that the 'Worldwide Sales - Total Continuing Operations Production Per Day' will reach 1,463.94 thousands of barrels of oil equivalent per day. Compared to the present estimate, the company reported 1,463.00 thousands of barrels of oil equivalent per day in the same quarter last year.
The consensus among analysts is that 'Net Production Volumes Per Day By Commodity - Oil - Total Worldwide' will reach 749.09 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 736.00 thousands of barrels of oil per day.
Analysts forecast 'Average Realized Prices - Oil - Total Worldwide' to reach 60 dollars per barrel. Compared to the present estimate, the company reported 70 dollars per barrel in the same quarter last year.
According to the collective judgment of analysts, 'Average Realized Prices - NGLs - Total Worldwide' should come in at 17 dollars per barrel of oil equivalent. The estimate compares to the year-ago value of 22 dollars per barrel of oil equivalent.
View all Key Company Metrics for Occidental here>>>Over the past month, Occidental shares have recorded returns of +6.6% versus the Zacks S&P 500 composite's -0.3% change. Based on its Zacks Rank #4 (Sell), OXY will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .