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What You Need To Know Ahead of Occidental Petroleum's Earnings Release
Houston, Texas-based Occidental Petroleum Corporation (OXY) is an integrated oil and gas company. It engages in the acquisition, exploration, and development of oil and gas properties. With a market cap of $37.6 billion, Occidental Petroleum’s operations span the United States, the Middle East, and internationally.
The energy giant is gearing up to announce its Q1 results after the markets close on Wednesday, May 7. Ahead of the event, analysts expect OXY to report an adjusted EPS of $0.72, up 10.8% from $0.65 reported in the year-ago quarter. Moreover, the company has surpassed Street’s bottom-line estimates in each of the past four quarters.
However, for the full fiscal 2025, OXY’s earnings are expected to take a 24% hit, decreasing from $3.46 per share reported in fiscal 2024 to $2.63 per share. While in fiscal 2026, its earnings are expected to rebound 19% year-over-year to $3.13 per share.
OXY stock prices have plummeted 40.9% over the past 52 weeks, significantly underperforming the Energy Select Sector SPDR Fund’s (XLE) 15.5% drop and the S&P 500 Index’s ($SPX) 6% gains during the same time frame.
However, Occidental Petroleum’s stock prices gained 4.4% in the trading session after the release of its mixed Q4 results on Feb. 18. The company’s production during the quarter surged 19.6% year-over-year to 1,463 Mboed. However, due to a decrease in pricing and underperformance of its midstream & marketing business, the company’s overall revenues decreased 9.2% year-over-year to $6.8 billion, missing the Street’s expectations by 4.2%. Moreover, the company incurred $1.3 billion in asset impairment and other charges, which further impacted its GAAP-based income.
On the brighter side, Occidental’s non-GAAP net income increased 11.5% year-over-year to $792 million, and its adjusted EPS of $0.80 surpassed the consensus estimates by a staggering 19.4%.
The consensus view on OXY remains neutral, with a “Hold” rating overall. Of the 25 analysts covering the stock, opinions include three “Strong Buys,” one “Moderate Buy,” 18 “Holds,” and two “Strong Sells.” As of writing, the stock is trading 26.3% below its mean price target of $49.04.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.