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Occidental Petroleum (OXY) Stock Moves -0.46%: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed at $64.42 in the latest trading session, marking a -0.46% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.56%. Meanwhile, the Dow lost 1.81%, and the Nasdaq, a tech-heavy index, lost 4.66%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 3.77% over the past month. This has lagged the Oils-Energy sector's gain of 6.91% and the S&P 500's gain of 3.82% in that time.
Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release, which is expected to be February 27, 2023. The company is expected to report EPS of $1.91, up 29.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.89 billion, up 10.96% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Occidental Petroleum. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.72% lower. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 9.45. Its industry sports an average Forward P/E of 11.89, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
Also, we should mention that OXY has a PEG ratio of 0.39. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.47 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 -0.46%: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $64.42 in the latest trading session, marking a -0.46% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.56%. Meanwhile, the Dow lost 1.81%, and the Nasdaq, a tech-heavy index, lost 4.66%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 3.77% over the past month. This has lagged the Oils-Energy sector's gain of 6.91% and the S&P 500's gain of 3.82% in that time.
Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release, which is expected to be February 27, 2023. The company is expected to report EPS of $1.91, up 29.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.89 billion, up 10.96% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Occidental Petroleum. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.72% lower. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 9.45. Its industry sports an average Forward P/E of 11.89, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
Also, we should mention that OXY has a PEG ratio of 0.39. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.47 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.