Occidental Petroleum Corp Fourth Quarter Earnings Sneak Peek
S&P 500 (NYSE:SPY) component Occidental Petroleum Corporation (NYSE:OXY) will unveil its latest earnings on Wednesday, January 25, 2012. Occidental Petroleum is an international organization with subsidiaries operating in the oil and gas, chemical, and midstream markets.
Occidental Petroleum Corporation Earnings Preview Cheat Sheet.
Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.97 per share, a rise of 26.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.80. Between one and three months ago, the average estimate moved up. It has risen from $1.91 during the last month. For the year, analysts are projecting net income of $8.33 per share, a rise of 44.1% from last year.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 23 cents, reporting profit of $2.18 per share against a mean estimate of net income of $1.95 per share.
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Wall St. Revenue Expectations: On average, analysts predict $5.7 billion in revenue this quarter, a rise of 12.6% from the year ago quarter. Analysts are forecasting total revenue of $23.57 billion for the year, a rise of 23.8% from last year’s revenue of $19.04 billion.
Analyst Ratings: Analysts are bullish on this stock with 12 analysts rating it as a buy, none rating it as a sell and four rating it as a hold.
A Look Back: In the third quarter, profit rose 48.7% to $1.77 billion ($2.17 a share) from $1.19 billion ($1.46 a share) the year earlier, exceeding analyst expectations. Revenue rose 22.7% to $6.01 billion from $4.9 billion.
The company has seen net income rise in three straight quarters. Net income rose 70.9% in the second quarter and 45.6% in the first quarter.
Revenue has risen the past four quarters. Revenue rose 29.7% in the second quarter from the year earlier, climbed 20% in the first quarter from the year-ago quarter and 1.7% in the fourth quarter of the last fiscal year.
Competitors to Watch: ConocoPhillips (NYSE:COP), Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), Marathon Oil Corporation (NYSE:MRO), Hess Corp. (NYSE:HES), Eni S.p.A. (NYSE:E), Williams Companies, Inc. (NYSE:WMB), Double Eagle Petroleum Co. (NASDAQ:DBLE), Southwestern Energy Co. (NYSE:SWN), and EQT Corporation (NYSE:EQT).
Stock Price Performance: During October 21, 2011 to January 19, 2012, the stock price had risen $13.53 (15.7%) from $86.33 to $99.86. The stock price saw one of its best stretches over the last year between February 9, 2011 and February 18, 2011 when shares rose for eight-straight days, rising 10.4% (+$9.93) over that span. It saw one of its worst periods between July 21, 2011 and August 8, 2011 when shares fell for 13-straight days, falling 26.3% (-$28.16) over that span.
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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