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Is Occidental Petroleum (OXY) Stock Outpacing Its Oils-Energy Peers This Year?

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For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Occidental Petroleum (OXY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.

Occidental Petroleum is a member of the Oils-Energy sector. This group includes 255 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Occidental Petroleum is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for OXY's full-year earnings has moved 131.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, OXY has moved about 77% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 35.4%. This means that Occidental Petroleum is performing better than its sector in terms of year-to-date returns.

Looking more specifically, Occidental Petroleum belongs to the Oil and Gas - Integrated - United States industry, which includes 12 individual stocks and currently sits at #30 in the Zacks Industry Rank. This group has gained an average of 88.3% so far this year, so OXY is slightly underperforming its industry in this area.


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