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What Analyst Projections for Key Metrics Reveal About Occidental (OXY) Q3 Earnings
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Wall Street analysts forecast that Occidental Petroleum (OXY - Free Report) will report quarterly earnings of $1.43 per share in its upcoming release, pointing to a year-over-year increase of 123.4%. It is anticipated that revenues will amount to $6.73 billion, exhibiting an increase of 0.3% compared to the year-ago quarter.
The current level reflects an upward revision of 22.1% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
In light of this perspective, let's dive into the average estimates of certain Occidental metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenues and Other Income- Net Sales- Oil and Gas' of $6.44 billion. The estimate suggests a change of +19.2% year over year.
The combined assessment of analysts suggests that 'Revenues and Other Income- Net Sales- Midstream & Marketing' will likely reach $433.37 million. The estimate points to a change of +41.6% from the year-ago quarter.
Analysts' assessment points toward 'Revenues and Other Income- Interest, dividends and other income' reaching $82.00 million. The estimate indicates a year-over-year change of +39%.
Analysts predict that the 'Revenues and Other Income- Oil- United States' will reach $4.54 billion. The estimate indicates a change of +20.6% from the prior-year quarter.
The consensus estimate for 'Revenues and Other Income- NGL- United States' stands at $641.72 million. The estimate indicates a year-over-year change of +36.8%.
The consensus among analysts is that 'Revenues and Other Income- GAS- United States' will reach $280.27 million. The estimate indicates a change of +16.8% from the prior-year quarter.
Analysts expect 'Revenues and Other Income- Oil & Gas- International' to come in at $1.03 billion. The estimate indicates a year-over-year change of +18.3%.
According to the collective judgment of analysts, 'Net Production Volumes Per Day By Commodity - Natural Gas - Total Worldwide' should come in at . The estimate compares to the year-ago value of .
It is projected by analysts that the 'Net Production Volumes Per Day By Commodity - Oil - Total Worldwide' will reach 694.23 thousands of barrels of oil per day. Compared to the present estimate, the company reported 746.00 thousands of barrels of oil per day in the same quarter last year.
The average prediction of analysts places 'Daily Production Volumes - Worldwide Production' at 1,416.60 thousands of barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 1,465.00 thousands of barrels of oil equivalent per day.
Analysts forecast 'Average Realized Prices - NGLs - Total Worldwide' to reach 24 dollars per barrel. Compared to the present estimate, the company reported 20 dollars per barrel in the same quarter last year.
Based on the collective assessment of analysts, 'Net Production Volumes per Day - International' should arrive at 225.48 thousands of barrels of oil equivalent per day. The estimate compares to the year-ago value of 238.00 thousands of barrels of oil equivalent per day.
Shares of Occidental have experienced a change of -1.5% in the past month compared to the -0.4% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), OXY is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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What Analyst Projections for Key Metrics Reveal About Occidental (OXY) Q3 Earnings
Wall Street analysts forecast that Occidental Petroleum (OXY - Free Report) will report quarterly earnings of $1.43 per share in its upcoming release, pointing to a year-over-year increase of 123.4%. It is anticipated that revenues will amount to $6.73 billion, exhibiting an increase of 0.3% compared to the year-ago quarter.
The current level reflects an upward revision of 22.1% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
In light of this perspective, let's dive into the average estimates of certain Occidental metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenues and Other Income- Net Sales- Oil and Gas' of $6.44 billion. The estimate suggests a change of +19.2% year over year.
The combined assessment of analysts suggests that 'Revenues and Other Income- Net Sales- Midstream & Marketing' will likely reach $433.37 million. The estimate points to a change of +41.6% from the year-ago quarter.
Analysts' assessment points toward 'Revenues and Other Income- Interest, dividends and other income' reaching $82.00 million. The estimate indicates a year-over-year change of +39%.
Analysts predict that the 'Revenues and Other Income- Oil- United States' will reach $4.54 billion. The estimate indicates a change of +20.6% from the prior-year quarter.
The consensus estimate for 'Revenues and Other Income- NGL- United States' stands at $641.72 million. The estimate indicates a year-over-year change of +36.8%.
The consensus among analysts is that 'Revenues and Other Income- GAS- United States' will reach $280.27 million. The estimate indicates a change of +16.8% from the prior-year quarter.
Analysts expect 'Revenues and Other Income- Oil & Gas- International' to come in at $1.03 billion. The estimate indicates a year-over-year change of +18.3%.
According to the collective judgment of analysts, 'Net Production Volumes Per Day By Commodity - Natural Gas - Total Worldwide' should come in at . The estimate compares to the year-ago value of .
It is projected by analysts that the 'Net Production Volumes Per Day By Commodity - Oil - Total Worldwide' will reach 694.23 thousands of barrels of oil per day. Compared to the present estimate, the company reported 746.00 thousands of barrels of oil per day in the same quarter last year.
The average prediction of analysts places 'Daily Production Volumes - Worldwide Production' at 1,416.60 thousands of barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 1,465.00 thousands of barrels of oil equivalent per day.
Analysts forecast 'Average Realized Prices - NGLs - Total Worldwide' to reach 24 dollars per barrel. Compared to the present estimate, the company reported 20 dollars per barrel in the same quarter last year.
Based on the collective assessment of analysts, 'Net Production Volumes per Day - International' should arrive at 225.48 thousands of barrels of oil equivalent per day. The estimate compares to the year-ago value of 238.00 thousands of barrels of oil equivalent per day.
View all Key Company Metrics for Occidental here>>>Shares of Occidental have experienced a change of -1.5% in the past month compared to the -0.4% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), OXY is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .