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Unlocking Q1 Potential of Occidental (OXY): Exploring Wall Street Estimates for Key Metrics
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Wall Street analysts expect Occidental Petroleum (OXY - Free Report) to post quarterly earnings of $0.62 per share in its upcoming report, which indicates a year-over-year decline of 28.7%. Revenues are expected to be $5.5 billion, down 19.7% from the year-ago quarter.
Over the last 30 days, there has been an upward revision of 28.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
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 indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
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.
Based on the collective assessment of analysts, 'Net sales- Oil and gas' should arrive at $5.08 billion. The estimate points to a change of -10.6% from the year-ago quarter.
Analysts predict that the 'Net sales- Midstream & marketing' will reach $410.50 million. The estimate indicates a change of +102.2% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Oil- United States' at $3.51 billion. The estimate indicates a change of -8.4% from the prior-year quarter.
The consensus estimate for 'Revenue- NGL- United States' stands at $496.37 million. The estimate indicates a year-over-year change of -14.1%.
Analysts forecast 'Revenue- GAS- United States' to reach $222.63 million. The estimate indicates a change of -41.6% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Oil & Gas- International' reaching $760.70 million. The estimate indicates a year-over-year change of -11.1%.
Analysts expect 'Worldwide Sales - Total Continuing Operations Production Per Day' to come in at 1,426.16 thousands of barrels of oil equivalent per day. Compared to the current estimate, the company reported 1,391.00 thousands of barrels of oil equivalent per day in the same quarter of the previous year.
According to the collective judgment of analysts, 'Average Realized Prices - Oil - Total Worldwide' should come in at 65 dollars per barrel. The estimate is in contrast to the year-ago figure of 71 dollars per barrel.
The consensus among analysts is that 'Average Realized Prices - NGLs - Total Worldwide' will reach 19 dollars per barrel of oil equivalent. The estimate compares to the year-ago value of 26 dollars per barrel of oil equivalent.
The combined assessment of analysts suggests that 'Average Realized Prices - Oil - International' will likely reach 65 dollars per barrel. Compared to the current estimate, the company reported 73 dollars per barrel in the same quarter of the previous year.
It is projected by analysts that the 'Average Realized Prices - Oil - United States' will reach 65 dollars per barrel. Compared to the current estimate, the company reported 71 dollars per barrel in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Net Production Volumes Per Day By Commodity - Oil - United States' of 618.00 thousands of barrels of oil per day. Compared to the current estimate, the company reported 601.00 thousands of barrels of oil per day in the same quarter of the previous year.
Over the past month, Occidental shares have recorded returns of -2.4% versus the Zacks S&P 500 composite's +12.2% change. Based on its Zacks Rank #1 (Strong Buy), OXY will likely outperform 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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Unlocking Q1 Potential of Occidental (OXY): Exploring Wall Street Estimates for Key Metrics
Wall Street analysts expect Occidental Petroleum (OXY - Free Report) to post quarterly earnings of $0.62 per share in its upcoming report, which indicates a year-over-year decline of 28.7%. Revenues are expected to be $5.5 billion, down 19.7% from the year-ago quarter.
Over the last 30 days, there has been an upward revision of 28.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
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 indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
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.
Based on the collective assessment of analysts, 'Net sales- Oil and gas' should arrive at $5.08 billion. The estimate points to a change of -10.6% from the year-ago quarter.
Analysts predict that the 'Net sales- Midstream & marketing' will reach $410.50 million. The estimate indicates a change of +102.2% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Oil- United States' at $3.51 billion. The estimate indicates a change of -8.4% from the prior-year quarter.
The consensus estimate for 'Revenue- NGL- United States' stands at $496.37 million. The estimate indicates a year-over-year change of -14.1%.
Analysts forecast 'Revenue- GAS- United States' to reach $222.63 million. The estimate indicates a change of -41.6% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Oil & Gas- International' reaching $760.70 million. The estimate indicates a year-over-year change of -11.1%.
Analysts expect 'Worldwide Sales - Total Continuing Operations Production Per Day' to come in at 1,426.16 thousands of barrels of oil equivalent per day. Compared to the current estimate, the company reported 1,391.00 thousands of barrels of oil equivalent per day in the same quarter of the previous year.
According to the collective judgment of analysts, 'Average Realized Prices - Oil - Total Worldwide' should come in at 65 dollars per barrel. The estimate is in contrast to the year-ago figure of 71 dollars per barrel.
The consensus among analysts is that 'Average Realized Prices - NGLs - Total Worldwide' will reach 19 dollars per barrel of oil equivalent. The estimate compares to the year-ago value of 26 dollars per barrel of oil equivalent.
The combined assessment of analysts suggests that 'Average Realized Prices - Oil - International' will likely reach 65 dollars per barrel. Compared to the current estimate, the company reported 73 dollars per barrel in the same quarter of the previous year.
It is projected by analysts that the 'Average Realized Prices - Oil - United States' will reach 65 dollars per barrel. Compared to the current estimate, the company reported 71 dollars per barrel in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Net Production Volumes Per Day By Commodity - Oil - United States' of 618.00 thousands of barrels of oil per day. Compared to the current estimate, the company reported 601.00 thousands of barrels of oil per day in the same quarter of the previous year.
View all Key Company Metrics for Occidental here>>>Over the past month, Occidental shares have recorded returns of -2.4% versus the Zacks S&P 500 composite's +12.2% change. Based on its Zacks Rank #1 (Strong Buy), OXY will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .