Stock Monitor: Enservco Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 11, 2017 / Active-Investors free earnings report on Occidental Petroleum Corp. (NYSE: OXY) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=OXY. The Company posted its financial results on November 01, 2017, for the third quarter of the fiscal year 2017. The petroleum and natural gas exploration and production's adjusted diluted earnings per share (EPS) surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is currently working on the research report for Enservco Corporation (NYSE: ENSV), which also belongs to the Basic Materials sector as the Company Occidental Petroleum. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Occidental Petroleum most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

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Earnings Highlights and Summary

For the three months ended September 24, 2017, Occidental Petroleum's total revenues increased 13.6% to $3.11 billion from $2.73 billion in Q3 FY16. The Company's total revenue numbers were below analysts' expectations of $3.15 billion.

During Q3 FY17, Occidental Petroleum's gross profit increased 30.6% to $1.75 billion from $1.40 billion in the same period of last year. During Q3 FY17, the Company's gross margin increased 530 basis points to 56.3% of revenue from 51.0% of revenue in Q3 FY16.

During Q3 FY17, Occidental Petroleum's worldwide sales decreased to 600,000 barrels of oil equivalents per day (boe/d) versus 609,000 boe/d in the comparable period of last year. For the reported quarter, the Company's worldwide sales from ongoing operations increased to 600,000 boe/d compared to 583,000 boe/d in Q3 FY16.

During Q3 FY17, Occidental Petroleum's worldwide oil realization increased 11.3% to $46.19 (BBL) from $41.49 in the corresponding period of last year. For the reported quarter, the Company's worldwide NGL realization increased 38.3% to $20.73 (BBL) from $14.99 in Q3 FY16. For the reported quarter, the Company's Domestic Gas realization decreased 6.5% to $2.15 (BBL) from $2.30 (BBL) in Q3 FY16.

During Q3 FY17, Occidental Petroleum's earnings before tax (EBT) was positive $215 million compared to negative $326 million in the same period of last year.

For the reported quarter, Occidental Petroleum's net income was positive $190 million compared to negative $241 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) was positive $0.25 versus negative $0.32 in the comparable period of last year. For the reported quarter, Occidental Petroleum's adjusted net income was positive $137 million compared to negative $112 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS was positive $0.18 compared to negative $0.15 in Q3 FY16. The adjusted diluted EPS surpassed analysts' expectations of $0.11.

Segment Details

Oil & Gas - During Q3 FY17, the Company's Oil & Gas segment's EBT was positive $220 million compared to negative $51 million in the corresponding period of last year. For the reported quarter, the segment's adjusted EBT was positive $139 million compared to negative $49 million in Q3 FY16.

Chemical - During Q3 FY17, the Company's Chemical segment's EBT was positive $200 million compared to negative $117 million in the same period of last year.

Midstream and Marketing - During Q3 FY17, the Company's Midstream and Marketing segment's EBT was positive $4 million versus negative $180 million in the comparable period of last year. For the reported quarter, the segment's adjusted EBT was positive $4 million compared to negative $20 million in Q3 FY16.

Balance Sheet

As on September 24, 2017, Occidental Petroleum's cash and cash equivalents decreased 43.2% to $1.81 billion from $3.18 billion as on September 30, 2016.

For the reported quarter, the Company's net trade receivables increased 6.5% to $3.75 billion from $3.52 billion in Q3 FY16. For the reported quarter, the Company's accounts payable increased 10.1% to $3.73 billion from $3.39 billion in the third quarter of 2016.

In the first nine months of 2017, the Company's cash provided by operating activities increased 63.1% to $1.07 billion from $656 million in the same period of last year.

Stock Performance Snapshot

December 08, 2017 - At Friday's closing bell, Occidental Petroleum's stock marginally fell 0.78%, ending the trading session at $68.87.

Volume traded for the day: 3.06 million shares.

Stock performance in the last month ? up 1.03%; previous three-month period ? up 14.00%; and past six-month period ? up 13.18%

After last Friday's close, Occidental Petroleum's market cap was at $52.60 billion.

Price to Earnings (P/E) ratio was at 97.27.

The stock has a dividend yield of 4.47%.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry. This sector was up 0.5% at the end of the session.

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