Occidental Petroleum Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Occidental Petroleum Corporation (NYSE:OXY) will unveil its latest earnings on Thursday, October 27, 2011. 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 net income of $1.96 per share, a rise of 33.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $2.21. Between one and three months ago, the average estimate moved down. It also has dropped from $2.10 during the last month. For the year, analysts are projecting profit of $7.96 per share, a rise of 37.7% from last year.

Past Earnings Performance: Last quarter, the company beat estimates by 6 cents, coming in at net income of $2.23 a share versus the estimate of profit of $2.17 a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 16.3% in revenue from the year-earlier quarter to $5.7 billion.

Analyst Ratings: Analysts are bullish on this stock with 14 analysts rating it as a buy, none rating it as a sell and three rating it as a hold.

A Look Back: In the second quarter, profit rose 70.9% to $1.82 billion ($2.23 a share) from $1.06 billion ($1.31 a share) the year earlier, exceeding analyst expectations. Revenue rose 29.7% to $6.17 billion from $4.76 billion.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose 45.6% in the first quarter and 29.2% in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue rose 20% in the first quarter from the year earlier, climbed 1.7% in the fourth quarter of the last fiscal year from the year-ago quarter and 19.3% in the third 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 September 23, 2011 to October 21, 2011, the stock price had risen $14.48 (20%) from $72.26 to $86.74. 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 7.6% (+$6.77) 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% (-$28.29) over that span. Shares are down $9.94 (-10.3%) year to date.

(Source: Xignite Financials)

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