NEW YORK (TheStreet) -- Shares of Occidental Petroleum (OXY) - Get Report were lower in early-afternoon trading on Monday ahead of the company's 2016 third quarter results due before Tuesday's market open.

Analysts surveyed by FactSet expect the Houston-based oil and gas company to post a loss of 11 cents per share on revenue of $2.65 billion.

During the same quarter last year, Occidental reported a loss of 18 cents per share on revenue of $2.53 billion.

Deutsche Bank said recently that the exploration and production sector has been "replenishing and increasing the quality of inventory bases and improving balance sheets via portfolio management and equity issuances."

This leads to increased visibility, Deutsche Bank noted.

The firm has a "hold" rating and $79 price target on Occidental stock.

Additionally, oil prices were falling this afternoon after non-OPEC members failed to commit this weekend to cut production levels alongside OPEC later this month, according to Reuters.

Morgan Stanley said that OPEC has reached a stalemate, MarketWatch reports. "Non-OPEC members are also refusing to join until OPEC formalizes an agreement, with several refusing to cut at all," the firm said.

Crude oil (WTI) was down 3.35% to $47.07 per barrel while Brent crude was lower by 3.08% to $48.18 per barrel this afternoon.

(Occidental is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "hold" with a ratings score of C.

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share.

You can view the full analysis from the report here: OXY

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