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 [for more oil news and analysis subscribe to our free newsletter].
- Occidental Petroleum Corporation (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 (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 [see also 25 Ways To Invest In Crude Oil].
ConocoPhillips (COP): Prior to spinning off its downstream services to Phillips 66 (PSX) in May of 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 (XOM): As Apple (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 [see also Company Profile: Exxon Mobil].
- Chevron Corporation (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, also, has missed two of its last four reports.
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Disclosure: Long XOM.
[...] but like all of the recent sell-offs, this one was also short-lived and welcomed by bargain buyers. Corporate earnings are now at the center of attention as investors are reading beyond the quarterly numbers in search [...]