We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Occidental Petroleum (OXY) Stock Moves -0.18%: What You Should Know
Read MoreHide Full Article
In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $54.82, marking a -0.18% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.82%. Elsewhere, the Dow lost 2.38%, while the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the oil and gas exploration and production company had lost 3.04% over the past month, outpacing the Oils-Energy sector's loss of 6.31% and the S&P 500's loss of 5.33% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. This is expected to be May 10, 2022. On that day, Occidental Petroleum is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 1400%. Meanwhile, our latest consensus estimate is calling for revenue of $7.79 billion, up 42.14% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.20 per share and revenue of $35.07 billion, which would represent changes of +260.78% and +33.27%, respectively, from the prior year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 74.57% higher within the past month. Occidental Petroleum is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Occidental Petroleum is currently trading at a Forward P/E ratio of 5.97. For comparison, its industry has an average Forward P/E of 12.13, which means Occidental Petroleum is trading at a discount to the group.
Also, we should mention that OXY has a PEG ratio of 0.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.34 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 6, putting it in the top 3% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Occidental Petroleum (OXY) Stock Moves -0.18%: What You Should Know
In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $54.82, marking a -0.18% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.82%. Elsewhere, the Dow lost 2.38%, while the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the oil and gas exploration and production company had lost 3.04% over the past month, outpacing the Oils-Energy sector's loss of 6.31% and the S&P 500's loss of 5.33% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. This is expected to be May 10, 2022. On that day, Occidental Petroleum is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 1400%. Meanwhile, our latest consensus estimate is calling for revenue of $7.79 billion, up 42.14% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.20 per share and revenue of $35.07 billion, which would represent changes of +260.78% and +33.27%, respectively, from the prior year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 74.57% higher within the past month. Occidental Petroleum is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Occidental Petroleum is currently trading at a Forward P/E ratio of 5.97. For comparison, its industry has an average Forward P/E of 12.13, which means Occidental Petroleum is trading at a discount to the group.
Also, we should mention that OXY has a PEG ratio of 0.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.34 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 6, putting it in the top 3% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.