Occidental Petroleum CorporationOXY reported fourth-quarter 2016 loss of 13 cents per share, wider than the Zacks Consensus Estimate of a loss of 3 cents. In the year-ago quarter, the company had posted a loss of 17 cents.
Full-year 2016 loss came in at $1.01 per share, wider than the Zacks Consensus Estimate of a loss of 90 cents. In the year-ago period, the company had reported earnings of 12 cents.
Occidental Petroleum's total revenue came in at $2,826 million, marginally beating the Zacks Consensus Estimate of $2,806 million. Revenues fell marginally from $2,843 million a year ago primarily due to lower contribution from Oil and Gas (4.3%).
Full-year revenues came in at $10,398 million, missing the Zacks Consensus Estimate of $10,670 million by 2.6%. Revenues also fell from the prior-year tally of $12,699 million by 18.1%.
Occidental Petroleum's average daily net oil, liquids and gas production volume decreased 10.7% year over year to 607,000 barrels of oil equivalents per day (Boe/d).
Realized prices for worldwide crude oil increased 17% year over year to $45.08 per barrel.
Worldwide realized NGL prices increased 31% to $18.36 per barrel.
Natural gas prices were up 42.4% to $1.88 per thousand cubic feet.
Occidental Petroleum Corporation Price, Consensus and EPS Surprise
As of Dec 31, 2016, Occidental Petroleum had cash and cash equivalents of $2,233 million compared with $3,201 million as of Dec 31, 2015.
As of Dec 31, 2016, Occidental Petroleum had long-term debt (net of current portion) of $9,819 million compared with $6,855 million as of Dec 31, 2015.
In the reported quarter, the company's cash from operations was $921 million, up 8.2% from $851 million in the prior-year period.
Occidental Petroleum's total capital expenditure was $891 million in the quarter under review, down 23.9% from $1,170 million a year ago.
ConocoPhillips COP reported fourth-quarter 2016 adjusted loss of 26 cents per share, narrower than the Zacks Consensus Estimate of a loss of 38 cents.
Hess Corporation HES reported adjusted fourth-quarter 2016 loss from continuing operations of $1.01 per share, narrower than the Zacks Consensus Estimate of loss of $1.09.
Anadarko Petroleum Corporation APC reported fourth-quarter 2016 adjusted loss of 50 cents per share, wider than the Zacks Consensus Estimate of a loss of 48 cents.
Occidental Petroleum currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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