Why Is Occidental Petroleum (OXY) Up 4.3% For the reason that Last Earnings Report
It has been a few month for the reason that final earnings report for Occidental Petroleum Company OXY. Shares have added about 4.Three% in that timeframe, outperforming the market.
Will the recent optimistic trend proceed leading up to the inventory’s subsequent earnings release, or is it due for a pullback Before we dive into how investors and analysts have reacted as of late, let’s take a quick take a look at its most current earnings report with the intention to get a greater handle on the necessary catalysts.
Occidental Petroleum Beats Q1 Earnings Estimates
Occidental Petroleum reported first-quarter 2017 earnings of $zero.15 per share, beating the Zacks Consensus Estimate of $0.14 xi’an gowell petroleum equipment by 7.1%. In xi’an gowell petroleum equipment the 12 months-ago quarter, the company had posted a loss of $zero.56.
Occidental Petroleum’s complete income came in at $2,978 million, lacking the Zacks Consensus Estimate of $3,011.4 million. Revenues increased 30.6% year over year from $2,281 million a yr ago.
Occidental Petroleum’s common daily internet oil, liquids and gas manufacturing quantity decreased eleven.1% yr over yr to 584,000 barrels of oil equivalents per day (Boe/d). This decrease in the production quantity was due to Colombia pipeline xi’an gowell petroleum equipment disruptions and deliberate maintenance at the Al Hosn Fuel and Dolphin operations.
Realized prices for worldwide crude oil increased 66.7% yr over yr to $49.04 per barrel.
Worldwide realized NGL costs elevated 98.Eight% to $21.59 per barrel.
Natural gas costs were up sixty five.6% to $2.07 per thousand cubic feet.
As of Mar 31, 2017, Occidental Petroleum had money and cash equivalents of $1,494 million in contrast with $2,233 million as of Dec 31, 2016.
As of Mar 31, 2017, the company had lengthy-time period debt (web of present portion) of $9,322 million in contrast with $9,819 million as of Dec 31, 2016.
In the reported quarter, its money from operations was $652 million, up 369% from $139 million within the prior-yr interval.
Occidental Petroleum’s total capital expenditure was $752 million in the quarter under overview, up 9.5% from $687 million a yr ago.
How Have Estimates Been Shifting Since Then
Following the discharge, buyers have witnessed an upward development in contemporary estimates. There have been two revisions higher and one decrease for the current quarter.
Occidental Petroleum Company Worth and Consensus
Occidental Petroleum Company Price and Consensus | Occidental Petroleum Company Quote
Presently, the inventory has a nice Growth Score of ‘B’, though it’s lagging too much on the momentum front with an ‘D’. The stock was allotted a grade of ‘F’ on the worth side, putting it in the lowest quintile for this funding strategy.
General, the inventory has an aggregate VGM Score of ‘D’. If you are not targeted on one technique, this rating is the one you have to be inquisitive about.
The corporate’s inventory is appropriate solely for progress based on our types scores.
While estimates have been trending upward for the stock, the magnitude of those revisions indicates a downward shift. The stock has a Zacks Rank #3 (Hold). We’re expecting an inline return from the stock in the following few months.
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