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) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $65.88, moving +0.43% from the previous trading session. This move lagged the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 0.83%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 4.74% over the past month. This has lagged the Oils-Energy sector's gain of 5.29% and outpaced the S&P 500's loss of 2.84% 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 $0.88 per share, which would represent a year-over-year decline of 63.93%. Our most recent consensus estimate is calling for quarterly revenue of $7.1 billion, down 25.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.80 per share and revenue of $28.37 billion. These totals would mark changes of -59.36% and -23.52%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. The Zacks Consensus EPS estimate has moved 0.45% lower within the past month. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Occidental Petroleum is currently trading at a Forward P/E ratio of 17.28. This represents a premium compared to its industry's average Forward P/E of 15.97.
We can also see that OXY currently has a PEG ratio of 0.79. 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. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.79 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 109, putting it in the top 44% 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.
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) Gains But Lags Market: What You Should Know
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $65.88, moving +0.43% from the previous trading session. This move lagged the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 0.83%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 4.74% over the past month. This has lagged the Oils-Energy sector's gain of 5.29% and outpaced the S&P 500's loss of 2.84% 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 $0.88 per share, which would represent a year-over-year decline of 63.93%. Our most recent consensus estimate is calling for quarterly revenue of $7.1 billion, down 25.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.80 per share and revenue of $28.37 billion. These totals would mark changes of -59.36% and -23.52%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. The Zacks Consensus EPS estimate has moved 0.45% lower within the past month. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Occidental Petroleum is currently trading at a Forward P/E ratio of 17.28. This represents a premium compared to its industry's average Forward P/E of 15.97.
We can also see that OXY currently has a PEG ratio of 0.79. 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. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.79 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 109, putting it in the top 44% 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.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.