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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 at $50.44 in the latest trading session, marking a +0.4% move from the prior day. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 2.97% over the past month. This has lagged the Oils-Energy sector's gain of 3.68% and the S&P 500's gain of 3.84% in that time.
OXY will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2019. The company is expected to report EPS of $1.07, down 2.73% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.49 billion, up 10.01% from the prior-year quarter.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $3.72 per share and revenue of $17.11 billion. These results would represent year-over-year changes of -25.75% and -9.38%, respectively.
Any recent changes to analyst estimates for OXY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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 5.46% lower. OXY is currently a Zacks Rank #3 (Hold).
Investors should also note OXY's current valuation metrics, including its Forward P/E ratio of 13.49. Its industry sports an average Forward P/E of 14.27, so we one might conclude that OXY is trading at a discount comparatively.
Investors should also note that OXY has a PEG ratio of 2.7 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 1.55 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 98, putting it in the top 39% 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.
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Occidental Petroleum (OXY) Outpaces Stock Market Gains: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $50.44 in the latest trading session, marking a +0.4% move from the prior day. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 2.97% over the past month. This has lagged the Oils-Energy sector's gain of 3.68% and the S&P 500's gain of 3.84% in that time.
OXY will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2019. The company is expected to report EPS of $1.07, down 2.73% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.49 billion, up 10.01% from the prior-year quarter.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $3.72 per share and revenue of $17.11 billion. These results would represent year-over-year changes of -25.75% and -9.38%, respectively.
Any recent changes to analyst estimates for OXY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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 5.46% lower. OXY is currently a Zacks Rank #3 (Hold).
Investors should also note OXY's current valuation metrics, including its Forward P/E ratio of 13.49. Its industry sports an average Forward P/E of 14.27, so we one might conclude that OXY is trading at a discount comparatively.
Investors should also note that OXY has a PEG ratio of 2.7 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 1.55 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 98, putting it in the top 39% 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.