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研究快訊:Oxy:第一季每股收益超預期,資產負債表更加穩健

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-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下:西方石油公司(OXY)第一季調整後每股收益為1.06美元,高於市場普遍預期的0.87美元,超出預期0.47美元。其產量為142.6萬桶油當量/日,高於預期,但季減3.7%。二疊紀盆地貢獻了78.7萬桶油當量/日(佔總產量的55%)。由於液體價格上漲,油價上漲18%至每桶69.91美元,天然氣凝液價格上漲14%至每桶18.99美元,油氣稅前收入從第四季的7億美元增加至10億美元。然而,由於二疊紀盆地的擁堵,國內天然氣價格下跌10%至每千立方英尺1.01美元。公司資產負債表取得顯著進展,償還71億美元債務後,本金債務降至133億美元,並朝著100億美元的目標邁進,同時現金增至38億美元。儘管正值週期低谷,但剝離OxyChem業務仍為公司提供了財務彈性。鑑於自2月28日伊朗衝突爆發以來原油價格持續走高,我們預期短期內自由現金流將進一步改善,扣除營運資本前的自由現金流將達到17億美元,資本支出為16億美元。

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