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Occidental Petroleum (OXY) Outpaces Stock Market Gains: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $68.04, moving +1.89% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Coming into today, shares of the oil and gas exploration and production company had gained 9.05% in the past month. In that same time, the Oils-Energy sector gained 11.26%, while the S&P 500 gained 7.92%.
OXY will be looking to display strength as it nears its next earnings release, which is expected to be February 12, 2019. In that report, analysts expect OXY to post earnings of $1.12 per share. This would mark year-over-year growth of 173.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.51 billion, up 25.77% from the year-ago period.
Investors might also notice recent changes to analyst estimates for OXY. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 25.47% lower. OXY is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, OXY is holding a Forward P/E ratio of 18.08. This valuation marks a discount compared to its industry's average Forward P/E of 19.6.
We can also see that OXY currently has a PEG ratio of 3.01. 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 1.81 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 250, putting it in the bottom 2% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Occidental Petroleum (OXY) Outpaces Stock Market Gains: What You Should Know
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $68.04, moving +1.89% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Coming into today, shares of the oil and gas exploration and production company had gained 9.05% in the past month. In that same time, the Oils-Energy sector gained 11.26%, while the S&P 500 gained 7.92%.
OXY will be looking to display strength as it nears its next earnings release, which is expected to be February 12, 2019. In that report, analysts expect OXY to post earnings of $1.12 per share. This would mark year-over-year growth of 173.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.51 billion, up 25.77% from the year-ago period.
Investors might also notice recent changes to analyst estimates for OXY. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 25.47% lower. OXY is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, OXY is holding a Forward P/E ratio of 18.08. This valuation marks a discount compared to its industry's average Forward P/E of 19.6.
We can also see that OXY currently has a PEG ratio of 3.01. 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 1.81 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 250, putting it in the bottom 2% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.