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Jim Cramer Awaits Occidental Petroleum’s Quarterly Results on Thursday

TheStreet’s Jim Cramer is watching fourth quarter financial results from Occidental Petroleum which are due to be released on Thursday before the markets open.
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TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer is watching fourth quarter financial results from Occidental Petroleum (OXY), released on Thursday, before the markets open. Analysts expect the Houston-based oil company to post a loss of $0.12 a share with revenue of almost $3 billion. During the same quarter a year ago, the company reported earnings per share of $0.72 on sales of $4.3 billion. For context, crude prices lost 49 percent of the past 12 months. The closely watched commodity is down 16.5 percent since the start of the year. Oil rallied last week on hopes that OPEC and Russia would meet to discuss production cuts, but the commodity soon dipped back towards $30 a barrel once those rumors faded. Occidental Petroleum is a holding of Cramer’s charitable trust, Action Alerts PLUS.

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