uploads///OXY Q Pre EPS Beat or Miss

How Occidental Petroleum Stock Has Reacted to Past Earnings

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Consensus and actual earnings

In the past four quarters, Occidental Petroleum (OXY) has met the consensus EPS (earnings per share) estimate 25% of the time and missed the consensus EPS estimate 75% of the time. OXY has not beaten the consensus EPS estimate once in the past year.

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OXY’s stock price reaction to past earnings

Occidental Petroleum reported its 4Q16 earnings before the market opened on February 9, 2017. In 4Q16, excluding one-time items, the company missed the consensus EPS estimate by $0.11 per share. After the earnings release, worse-than-expected earnings still saw the stock price rise ~5% over the next two trading sessions.

Occidental Petroleum reported its 3Q16 earnings before the market opened on November 1, 2016. In 3Q16, excluding one-time items, the company missed the consensus EPS estimate by $0.04 per share. After the earnings release, worse-than-expected earnings saw the stock price fall ~12% in the next nine trading sessions.

Other key reactions

OXY reported its 2Q16 earnings before the market opened on August 3, 2016. Excluding one-time items, the company reported 2Q16 adjusted EPS that were in line with the consensuses EPS estimate. The stock price rose ~7% over the next five weeks.

OXY reported its 1Q16 earnings before the market opened on May 5, 2016. Excluding one-time items, the company missed the consensus 1Q16 EPS estimate by $0.15 per share. After the earnings release, worse-than-expected earnings saw Occidental Petroleum’s stock price rise ~4% over the next six trading sessions.

Other oil and gas producers

By comparison, in the past four quarters, upstream peers Pioneer Natural Resources (PXD), Devon Energy (DVN), and Murphy Oil (MUR) have beaten their earnings expectations ~75%, ~100%, and ~75%, of the time, respectively.

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