Should You Buy Occidental Petroleum Stock Before Feb. 18?

Investors funny successful Occidental Petroleum (NYSE: OXY) should ellipse Feb. 18 connected their calendar. That's the day the lipid and state elephantine volition study its fourth-quarter and full-year earnings. It could serve arsenic a catalyst for the company's banal price.

Here's a look astatine what transpired the past clip Occidental Petroleum reported net and what to expect this clip around. That should assistance you determine whether to buy the lipid stock earlier its next net study oregon hold until after.

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Occidental Petroleum reported its third-quarter fiscal results connected Nov. 10. The vigor shaper had a beardown quarter. Its lipid and state output exceeded the precocious extremity of its guidance range, reaching astir 1.5 cardinal barrels of lipid equivalent per day. Its midstream and selling conception besides delivered results that exceeded the precocious extremity of its guidance range. This beardown showing enabled the institution to study $0.64 per stock of adjusted nett income, which bushed the analysts' statement estimation by $0.12 per share.

The institution benefited from higher lipid and state prices. It sold its lipid for an mean of $64.78 per tube during the period, a 2% summation from the anterior quarter. Meanwhile, the mean terms it sold its earthy state was 11% higher than the erstwhile quarter.

Despite its beardown quarterly results, Occidental Petroleum's banal hardly budged aft it reported earnings:

As that illustration shows, shares dipped successful the weeks pursuing its net earlier rocketing much than 10% successful January. The institution got a boost from lipid prices and guardant advancement connected its strategical program to heighten shareholder value.

Occidental Petroleum apt faced immoderate headwinds successful the 4th quarter. Oil prices declined by astir 10% during the period, which apt pressured its earnings. That reflects successful the analysts' statement estimate, which is lone $0.19 per stock for the 4th quarter.

While analysts aren't optimistic astir Occidental's fourth-quarter earnings, they thin to underestimate the lipid company. It bushed the statement estimation for 3 consecutive quarters past year, mostly owed to its beardown operations. Given that history, it wouldn't beryllium astonishing to spot Occidental bushed the analysts' statement net estimation again during the 4th quarter.

However, that doesn't needfully mean the banal volition popular aft earnings. Changes successful lipid prices are a overmuch much meaningful catalyst for Occidental these days. Crude prices person been connected the emergence this year, fueled by the imaginable for proviso disruptions related to Iran amid increasing tensions with the U.S. If the U.S. takes subject enactment against Iran, crude prices could soar, taking Occidental Petroleum's banal up with them.