We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Occidental Petroleum (OXY) Stock Moves -1.5%: What You Should Know
Read MoreHide Full Article
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $59.82, moving -1.5% from the previous trading session. This change was narrower than the S&P 500's 2% loss on the day. Meanwhile, the Dow lost 2.06%, and the Nasdaq, a tech-heavy index, lost 2.32%.
Prior to today's trading, shares of the oil and gas exploration and production company had lost 8.68% over the past month. This has lagged the Oils-Energy sector's loss of 3.93% and the S&P 500's gain of 2.88% 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 February 27, 2023. In that report, analysts expect Occidental Petroleum to post earnings of $1.83 per share. This would mark year-over-year growth of 23.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.65 billion, up 7.98% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. Within the past 30 days, our consensus EPS projection has moved 2.91% lower. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 9.27. For comparison, its industry has an average Forward P/E of 11.26, which means Occidental Petroleum is trading at a discount to the group.
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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.46 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Occidental Petroleum (OXY) Stock Moves -1.5%: What You Should Know
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $59.82, moving -1.5% from the previous trading session. This change was narrower than the S&P 500's 2% loss on the day. Meanwhile, the Dow lost 2.06%, and the Nasdaq, a tech-heavy index, lost 2.32%.
Prior to today's trading, shares of the oil and gas exploration and production company had lost 8.68% over the past month. This has lagged the Oils-Energy sector's loss of 3.93% and the S&P 500's gain of 2.88% 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 February 27, 2023. In that report, analysts expect Occidental Petroleum to post earnings of $1.83 per share. This would mark year-over-year growth of 23.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.65 billion, up 7.98% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. Within the past 30 days, our consensus EPS projection has moved 2.91% lower. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 9.27. For comparison, its industry has an average Forward P/E of 11.26, which means Occidental Petroleum is trading at a discount to the group.
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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.46 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.