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Occidental Petroleum (OXY) Stock Moves -0.11%: What You Should Know
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In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $56.98, marking a -0.11% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.32%. On the other hand, the Dow registered a loss of 0.71%, and the technology-centric Nasdaq decreased by 0.2%.
The oil and gas exploration and production company's shares have seen a decrease of 3.22% over the last month, not keeping up with the Oils-Energy sector's loss of 2.12% and the S&P 500's gain of 4.59%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. The company is slated to reveal its earnings on February 14, 2024. The company is expected to report EPS of $0.82, down 49.07% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.21 billion, down 13.39% from the prior-year quarter.
It is also important to note the 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 23.28% downward. Occidental Petroleum is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Occidental Petroleum is currently trading at a Forward P/E ratio of 13.06. This denotes a premium relative to the industry's average Forward P/E of 12.56.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank is ordered 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 -0.11%: What You Should Know
In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $56.98, marking a -0.11% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.32%. On the other hand, the Dow registered a loss of 0.71%, and the technology-centric Nasdaq decreased by 0.2%.
The oil and gas exploration and production company's shares have seen a decrease of 3.22% over the last month, not keeping up with the Oils-Energy sector's loss of 2.12% and the S&P 500's gain of 4.59%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. The company is slated to reveal its earnings on February 14, 2024. The company is expected to report EPS of $0.82, down 49.07% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.21 billion, down 13.39% from the prior-year quarter.
It is also important to note the 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 23.28% downward. Occidental Petroleum is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Occidental Petroleum is currently trading at a Forward P/E ratio of 13.06. This denotes a premium relative to the industry's average Forward P/E of 12.56.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank is ordered 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.