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Big Oil Earnings to Dominate This Week


With crude oil being one of the worst performing commodities of the year, commodity investors are paying close attention to five big companies that are reporting earnings this week.

Crude oil has been among the worst-performing commodities this year as hefty production has combined with a number of other factors to send the fossil fuel lower. That being said, a number of bellwether oil firms will be detailing their most recent quarter's earnings this week, as investors are anxious to see how lower prices have impacted bottom-line returns. Below, we outline five of the biggest oil firms to report earnings this week, and commodity investors should watch them closely.
  • Occidental Petroleum Corporation (NYSE:OXY): Today, Occidental will kick off the week with its latest report. The Los Angeles-based firm primarily engages in oil and gas exploration and production, allowing them to benefit from some recent discoveries in California. Analysts will be looking for a healthy EPS of $1.62 with revenues just shy of $6.5 billion. OXY has surpassed its last four earnings expectations, so investors will be looking for more of the same today.
  • Halliburton Company (NYSE:HAL): Halliburton has its hands in nearly every facet of the oil and gas industry, segmenting its operations by drilling and production. The stock maintains a healthy market cap of over $35 billion while paying out a dividend of just over 1%. The firm will report before market open today, so look for the stock to be a big mover throughout the day. Analysts expect EPS of $0.57 with revenues just below $7 billion. Similar to OXY, Halliburton has either met or surpassed its past four earnings marks.
  • ConocoPhillips (NYSE:COP): Prior to spinning off its downstream services to Phillips 66 (NYSE:PSX) in May 2012, ConocoPhillips was the fifth largest oil firm in the world. COP still touts a market cap of roughly $70 billion and a handsome EPS of over $5. When the company reports prior to market open on Thursday, The Street will look for EPS of $1.40 as the stock looks to overcome a period of shaky earnings reports. COP has missed three of its last four estimates.
  • Exxon Mobil (NYSE:XOM): As Apple (NASDAQ:AAPL) continues to struggle, Exxon looks to take back the crown of largest firm in the world with its before-market-open report Thursday. The oil behemoth has over $380 billion in market cap and trades more than 12.8 million shares on a daily basis. Analysts have set the EPS of $2.04 with revenues just over $123 billion. Note that XOM has missed two of its last four reports and revenue projections for the coming two quarters are lower than the year prior.
  • Chevron Corporation (NYSE:CVX): Closing out the week, Chevron will report earnings prior to the opening bell on Friday. With a market cap of over $220 billion, Chevron is one of the best-known names in the energy space. Analyst expectations have pegged EPS at $3.06 with revenues just shy of $68 billion. Note that CVX has also missed two of its last four reports.
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Editor's note: This article by Jared Cummans was originally published on Commodity HQ.
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