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Wall Street analysts expect Occidental Petroleum (OXY) 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.