Occidental Petroleum (NYSE: OXY) is expected to report Q2 earnings on July 30. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Occidental Petroleum's revenues will increase 2.0% and EPS will wane -0.6%.

The average estimate for revenue is $5.88 billion. On the bottom line, the average EPS estimate is $1.63.

Revenue details
Last quarter, Occidental Petroleum logged revenue of $5.87 billion. GAAP reported sales were 6.3% lower than the prior-year quarter's $6.27 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.69. GAAP EPS of $1.68 for Q1 were 13% lower than the prior-year quarter's $1.92 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 46.6%, 630 basis points worse than the prior-year quarter. Operating margin was 35.9%, 580 basis points worse than the prior-year quarter. Net margin was 23.1%, 180 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $24.75 billion. The average EPS estimate is $7.15.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,369 members out of 1,414 rating the stock outperform, and 45 members rating it underperform. Among 274 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 264 give Occidental Petroleum a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Occidental Petroleum is outperform, with an average price target of $99.73.

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