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Chart in Focus: Occidental Petroleum’s 3Q16 Cash Flow Estimates

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3Q16 cash flow estimates

For 3Q16, Wall Street analysts expect Occidental Petroleum (OXY) to report cash flows of $1.36 per share, which would be ~1% higher than in 3Q15.

Occidental Petroleum’s cash flow dropped steeply in 1Q15, mainly due to lower realized crude oil (USO) and natural gas (UNG) prices. In 1Q15, Occidental Petroleum reported cash flows of $0.73 per share—its lowest since 2004.

In 2015, Occidental Petroleum reported much lower cash flows than in preceding years. In 2Q16, the company reported sequentially higher cash flows due to improved crude oil (USO) and natural gas (UNG) realized prices.

For 3Q16, Wall Street analysts expect Occidental Petroleum to report free cash flows of ~$0.34 per share.

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Other upstream players

Due to the steep downward trend in energy prices, most S&P 500 (SPY) energy companies have reported lower year-over-year cash flows. Range Resources (RRC), Encana (ECA), and ConocoPhillips (COP) reported $0.49 per share, $0.10 per share, and $1.01 per share, respectively, in cash flows in 2Q16.

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