⚡Could Oxy replicate Shell’s Success?

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Picture credit: Oil & Gas IQ

Shell ($SHEL) blew our minds last week when the energy company beat analysts’ revenue prediction by an astounding 87%! This was the company’s highest quarterly profit since 2008.

Although, with high oil and gas prices, partly due to uncertainty about supplies from Russia, we expected high earnings from oil and gas companies. They’ve fed inflation and shook the global economy greatly, this is the least they could do for stockholders. And we’re expecting the same uptrend for Warren Buffett’s Occidental Petroleum ($OXY).

What are we expecting for Oxy?

$OXY has consistently beat earnings estimates in the last 4 quarters, with the highest Earnings Per Share beat being 1,101.5% in Q2 2021. The oil & gas company is set to report its Q1 2022 earnings on Wednesday, 11th of May.

Here’s what analysts are expecting:

  • Revenue: $7.96 Billion, representing a 45.3% year-over-year increase.
  • Earnings per share: $1.97/share, up 1413.3% year-over-year.

It is expected that this stock will gain some short-term uptrend if it surpasses analysts’ estimates. We’re definitely keeping an eye on this one.

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