S&P 500 (NYSE:SPY) component Occidental Petroleum Corporation (NYSE:OXY) will unveil its latest earnings on Tuesday, July 26, 2011. Occidental Petroleum Corporation 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 $2.19 per share, a rise of 67.2% 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 $2.07. For the year, analysts are projecting net income of $8.58 per share, a rise of 48.4% from last year.
Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked profit of $1.96 per share versus a mean estimate of net income of $1.80 per share.
Wall St. Revenue Expectations: On average, analysts predict $5.79 billion in revenue this quarter, a rise of 21.6% from the year ago quarter. Analysts are forecasting total revenue of $23.55 billion for the year, a rise of 23.7% from last year’s revenue of $19.04 billion.
Analyst Ratings: Analysts are bullish on this stock with 15 analysts rating it as a buy, none rating it as a sell and six rating it as a hold.
The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 45.6% while it rose 29.2% in the fourth quarter of the last fiscal year and 28.5% in the third quarter of the last fiscal year.
Revenue has risen the past four quarters. Revenue increased 20% to $5.73 billion in first quarter. The figure rose 1.7% in the fourth quarter of the last fiscal year from the year earlier, climbed 19.3% in the third quarter of the last fiscal year from the year-ago quarter and 29.1% in the second 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 May 23, 2011 to July 20, 2011, the stock price had risen $7.69 (7.8%) from $98.50 to $106.19. The stock price saw one of its best stretches over the last year between December 8, 2010 and December 22, 2010 when shares rose for 11-straight days, rising 7.5% (+$6.80) over that span. It saw one of its worst periods between May 9, 2011 and May 16, 2011 when shares fell for six-straight days, falling 6% (-$6.45) over that span. Shares are up $8.97 (+9.2%) year to date.
(Source: Xignite Financials)
Get Actionable Investing Insights: Check Out Wall St. Cheat Sheet’s newest Feature Trades of the Month!