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What Are the Odds of OXY Beating Its 4Q17 Earnings Estimates?

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Odds of beating earnings

In the last four quarters, Occidental Petroleum (OXY) beat the consensus EPS (earnings per share) estimates in 1Q17, 2Q17, and 3Q17. However, OXY missed the consensus EPS estimate in 4Q16. In the last four quarters, OXY beat the consensus EPS estimate 75% of the time and missed the consensus EPS estimate 25% of the time.

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What was OXY’s stock price reaction to its 3Q17 earnings?

Occidental Petroleum (OXY) announced its 3Q17 earnings on November 1, 2017, before the market opened. Occidental Petroleum reported an adjusted profit of $0.18 per share, $0.07 better than the Wall Street analyst consensus for a profit of $0.11 per share.

OXY’s 3Q17 earnings were $0.33 higher per share when compared with the 3Q16 loss of $0.15 per share. When compared sequentially, OXY’s 3Q17 earnings were higher by $0.03 per share when compared with the 2Q17 profit of $0.15 per share.

Following the earnings release, better-than-expected earnings saw Occidental Petroleum’s stock price increase from $63.85 to $68.06 in four sessions.

Since its 3Q17 earnings, Occidental Petroleum outperformed the Energy Select Sector SPDR Fund (XLE), which represents an index of stocks in the energy sector. Since Occidental Petroleum’s 3Q17 earnings release, OXY has risen ~11.0% whereas XLE increased by ~4.0%.

In 2017, OXY outperformed XLE. In 2017, OXY increased ~8% whereas XLE decreased ~3%. To learn more about upstream stock performers from XLE in 2017, please read The Best and Worst Energy Stocks of XLE in 2017.

Other oil and gas producers

In the last four quarters, upstream players like Pioneer Natural Resources (PXD), Devon Energy (DVN), and Murphy Oil (MUR) have beaten earnings expectations ~75%, ~100%, and ~75% of the time, respectively.

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