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Occidental Petroleum (OXY) Stock Moves -1.94%: What You Should Know
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In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $66.68, marking a -1.94% move from the previous day. This change was narrower than the S&P 500's 2.37% loss on the day. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.21%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 4.47% over the past month. This has outpaced the Oils-Energy sector's gain of 0.87% and the S&P 500's loss of 6.51% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. This is expected to be November 8, 2022. On that day, Occidental Petroleum is projected to report earnings of $2.88 per share, which would represent year-over-year growth of 231.03%. Meanwhile, our latest consensus estimate is calling for revenue of $9.96 billion, up 46.22% 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 +48.28%, respectively, from the prior year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.6% lower. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 6.25. This valuation marks a discount compared to its industry's average Forward P/E of 10.74.
We can also see that OXY currently has a PEG ratio of 0.41. 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 group has a Zacks Industry Rank of 137, putting it in the bottom 46% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Occidental Petroleum (OXY) Stock Moves -1.94%: What You Should Know
In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $66.68, marking a -1.94% move from the previous day. This change was narrower than the S&P 500's 2.37% loss on the day. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.21%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 4.47% over the past month. This has outpaced the Oils-Energy sector's gain of 0.87% and the S&P 500's loss of 6.51% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. This is expected to be November 8, 2022. On that day, Occidental Petroleum is projected to report earnings of $2.88 per share, which would represent year-over-year growth of 231.03%. Meanwhile, our latest consensus estimate is calling for revenue of $9.96 billion, up 46.22% 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 +48.28%, respectively, from the prior year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.6% lower. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 6.25. This valuation marks a discount compared to its industry's average Forward P/E of 10.74.
We can also see that OXY currently has a PEG ratio of 0.41. 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 group has a Zacks Industry Rank of 137, putting it in the bottom 46% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.