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Occidental Petroleum (OXY) Dips More Than Broader Market: What You Should Know
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Occidental Petroleum (OXY - Free Report) ended the recent trading session at $59.42, demonstrating a -1.03% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.13%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.12%.
The oil and gas exploration and production company's shares have seen a decrease of 8.43% over the last month, not keeping up with the Oils-Energy sector's loss of 5.06% and the S&P 500's loss of 5.53%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.95, reflecting a 61.07% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $7.17 billion, indicating a 24.56% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4 per share and a revenue of $28.6 billion, representing changes of -57.22% and -22.9%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 4.85% rise in the Zacks Consensus EPS estimate. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Occidental Petroleum has a Forward P/E ratio of 15.01 right now. This indicates a premium in contrast to its industry's Forward P/E of 14.79.
It's also important to note that OXY currently trades at a PEG ratio of 0.68. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Integrated - United States industry had an average PEG ratio of 0.69.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 163, this industry ranks in the bottom 36% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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) Dips More Than Broader Market: What You Should Know
Occidental Petroleum (OXY - Free Report) ended the recent trading session at $59.42, demonstrating a -1.03% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.13%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.12%.
The oil and gas exploration and production company's shares have seen a decrease of 8.43% over the last month, not keeping up with the Oils-Energy sector's loss of 5.06% and the S&P 500's loss of 5.53%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.95, reflecting a 61.07% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $7.17 billion, indicating a 24.56% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4 per share and a revenue of $28.6 billion, representing changes of -57.22% and -22.9%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 4.85% rise in the Zacks Consensus EPS estimate. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Occidental Petroleum has a Forward P/E ratio of 15.01 right now. This indicates a premium in contrast to its industry's Forward P/E of 14.79.
It's also important to note that OXY currently trades at a PEG ratio of 0.68. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Integrated - United States industry had an average PEG ratio of 0.69.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 163, this industry ranks in the bottom 36% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.