Occidental Petroleum (OXY) ended the recent trading session at $47.92, demonstrating a -0.04% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 1.77%. Elsewhere, the Dow gained 1.42%, while the tech-heavy Nasdaq added 2.28%.
The the stock of oil and gas exploration and production company has fallen by 4.92% in the past month, lagging the Oils-Energy sector's gain of 0.43% and overreaching the S&P 500's loss of 5.73%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's upcoming EPS is projected at $0.75, signifying a 15.38% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $7.1 billion, up 18.06% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.21 per share and revenue of $29.41 billion, indicating changes of -7.23% and +9.43%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.07% lower. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
With respect to valuation, Occidental Petroleum is currently being traded at a Forward P/E ratio of 14.95. This represents a discount compared to its industry's average Forward P/E of 15.16.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 134, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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