What to Expect From Major Oil Stocks Reporting This Week
Since the election of Donald Trump, the focus in the United States has been on the industrials, and oil stocks make up a good portion of these. Recently, crude oil has flirted with the $55 a barrel level, which is a step in the right direction. Still this is less than half of what it was in 2014.
The prospect for this industry is promising, but performance as a whole has been somewhat muted in 2017 thus far. On the other hand, Wells Fargo sees a positive outlook for a few of the major companies in this field.
24/7 Wall St. has taken a look at a few of the major oil companies reporting their earnings this week. We have included a little color on what to expect, as well as a recent trading history and consensus analyst price target.
Murphy Oil Corp. (NYSE: MUR) reports its fourth-quarter results on Wednesday. The consensus estimates from Thomson Reuters are calling for a net loss of $0.15 per share and $484.62 million in revenue. In the same period of last year, it had a net loss of $0.76 per share and $658.09 million in revenue. Shares of Murphy Oil were trading up 2.5% at $32.10 Tuesday afternoon, with a consensus analyst price target of $32.29 and a 52-week trading range of $15.23 to $37.48.
On Thursday, Baker Hughes Inc. (NYSE: BHI) releases its fourth-quarter earnings report. The consensus estimates are a net loss of $0.11 per share and $2.37 billion in revenue. The same period of last year had $0.21 per share net loss and $3.39 billion in revenue. Baker Hughes shares were trading up about 1.3% at $62.24. The consensus price target is $69.14, and the 52-week range is $38.16 to $68.59.
Not an oil company but, among other things, a provider of equipment and consulting services for petroleum refining, Honeywell International Inc. (NYSE: HON) is expected to share its most recent quarterly results on Friday. Consensus estimates are $1.74 in earnings per share (EPS) and $10.15 billion in revenue. A year ago, it posted EPS of $1.58 and $9.98 billion in revenue. Honeywell was last seen at $118.02, within a 52-week range of $96.32 to $120.02. The consensus price target is $129.55.
Chevron Corp. (NYSE: CVX) also reports its fourth-quarter earnings on Friday. Analysts are predicting that this oil giant will post $0.65 in EPS and $33.76 billion in revenue. The same period of last year reportedly had EPS of $0.26 in EPS and revenue of $29.25 billion. The shares traded up 1.4% to $117.03. The 52-week range is $79.85 to $119.00, and the consensus price target is $125.25.