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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed at $58.48 in the latest trading session, marking a -0.34% move from the prior day. This move lagged the S&P 500's daily gain of 0.3%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.34%.
Coming into today, shares of the oil and gas exploration and production company had gained 0.45% in the past month. In that same time, the Oils-Energy sector lost 5.47%, while the S&P 500 lost 1.21%.
Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release. On that day, Occidental Petroleum is projected to report earnings of $1.41 per share, which would represent a year-over-year decline of 33.49%. Our most recent consensus estimate is calling for quarterly revenue of $7.71 billion, down 9.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.19 per share and revenue of $31.6 billion. These totals would mark changes of -33.8% and -14.81%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. 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. The Zacks Consensus EPS estimate has moved 5.46% lower within the past month. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 9.48. This represents a discount compared to its industry's average Forward P/E of 10.55.
Investors should also note that OXY has a PEG ratio of 0.43 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. OXY's industry had an average PEG ratio of 0.43 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $58.48 in the latest trading session, marking a -0.34% move from the prior day. This move lagged the S&P 500's daily gain of 0.3%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.34%.
Coming into today, shares of the oil and gas exploration and production company had gained 0.45% in the past month. In that same time, the Oils-Energy sector lost 5.47%, while the S&P 500 lost 1.21%.
Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release. On that day, Occidental Petroleum is projected to report earnings of $1.41 per share, which would represent a year-over-year decline of 33.49%. Our most recent consensus estimate is calling for quarterly revenue of $7.71 billion, down 9.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.19 per share and revenue of $31.6 billion. These totals would mark changes of -33.8% and -14.81%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. 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. The Zacks Consensus EPS estimate has moved 5.46% lower within the past month. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 9.48. This represents a discount compared to its industry's average Forward P/E of 10.55.
Investors should also note that OXY has a PEG ratio of 0.43 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. OXY's industry had an average PEG ratio of 0.43 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.