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Occidental Petroleum (OXY) Stock Moves -0.56%: What You Should Know

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Occidental Petroleum (OXY - Free Report) closed at $35.83 in the latest trading session, marking a -0.56% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.97%. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq gained 0.23%.

Coming into today, shares of the oil and gas exploration and production company had gained 25.98% in the past month. In that same time, the Oils-Energy sector gained 14.52%, while the S&P 500 lost 0.78%.

Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release, which is expected to be February 24, 2022. The company is expected to report EPS of $1.10, up 241.03% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.17 billion, up 114.09% from the prior-year quarter.

Investors might also notice recent changes to analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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. The Zacks Consensus EPS estimate has moved 5.16% lower within the past month. Occidental Petroleum is currently a Zacks Rank #3 (Hold).

In terms of valuation, Occidental Petroleum is currently trading at a Forward P/E ratio of 12.34. Its industry sports an average Forward P/E of 12.56, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 19% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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