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Occidental Petroleum (OXY) Stock Moves -0.99%: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $69.80, moving -0.99% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.8%. Elsewhere, the Dow lost 2.11%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 9.12% over the past month. This has outpaced the Oils-Energy sector's gain of 1.49% and the S&P 500's loss of 4.08% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. On that day, Occidental Petroleum is projected to report earnings of $2.85 per share, which would represent year-over-year growth of 227.59%. Meanwhile, our latest consensus estimate is calling for revenue of $9.91 billion, up 45.41% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.87 per share and revenue of $39.02 billion, which would represent changes of +326.27% and +48.27%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.16% lower within the past month. Occidental Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 6.48. This represents a discount compared to its industry's average Forward P/E of 10.61.
Meanwhile, OXY's PEG ratio is currently 0.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OXY's industry had an average PEG ratio of 0.42 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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Occidental Petroleum (OXY) Stock Moves -0.99%: What You Should Know
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $69.80, moving -0.99% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.8%. Elsewhere, the Dow lost 2.11%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 9.12% over the past month. This has outpaced the Oils-Energy sector's gain of 1.49% and the S&P 500's loss of 4.08% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. On that day, Occidental Petroleum is projected to report earnings of $2.85 per share, which would represent year-over-year growth of 227.59%. Meanwhile, our latest consensus estimate is calling for revenue of $9.91 billion, up 45.41% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.87 per share and revenue of $39.02 billion, which would represent changes of +326.27% and +48.27%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.16% lower within the past month. Occidental Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 6.48. This represents a discount compared to its industry's average Forward P/E of 10.61.
Meanwhile, OXY's PEG ratio is currently 0.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OXY's industry had an average PEG ratio of 0.42 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.