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Occidental Petroleum (OXY) Dips More Than Broader Markets: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed at $57.23 in the latest trading session, marking a -1.58% move from the prior day. This change lagged the S&P 500's daily loss of 0.47%. Meanwhile, the Dow lost 0.72%, and the Nasdaq, a tech-heavy index, lost 5.08%.
Heading into today, shares of the oil and gas exploration and production company had lost 1.51% over the past month, lagging the Oils-Energy sector's gain of 2.68% and the S&P 500's gain of 5.36% in that time.
Occidental Petroleum will be looking to display strength as it nears its next earnings release. In that report, analysts expect Occidental Petroleum to post earnings of $1.07 per share. This would mark a year-over-year decline of 66.14%. Meanwhile, our latest consensus estimate is calling for revenue of $7.28 billion, down 32.19% from the prior-year quarter.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $4.84 per share and revenue of $29.84 billion. These results would represent year-over-year changes of -48.24% and -19.57%, respectively.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.47% lower within the past month. Occidental Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 12.01. Its industry sports an average Forward P/E of 13.64, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
Investors should also note that OXY has a PEG ratio of 0.55 right now. 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 was holding an average PEG ratio of 0.9 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 115, putting it in the top 46% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Occidental Petroleum (OXY) Dips More Than Broader Markets: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $57.23 in the latest trading session, marking a -1.58% move from the prior day. This change lagged the S&P 500's daily loss of 0.47%. Meanwhile, the Dow lost 0.72%, and the Nasdaq, a tech-heavy index, lost 5.08%.
Heading into today, shares of the oil and gas exploration and production company had lost 1.51% over the past month, lagging the Oils-Energy sector's gain of 2.68% and the S&P 500's gain of 5.36% in that time.
Occidental Petroleum will be looking to display strength as it nears its next earnings release. In that report, analysts expect Occidental Petroleum to post earnings of $1.07 per share. This would mark a year-over-year decline of 66.14%. Meanwhile, our latest consensus estimate is calling for revenue of $7.28 billion, down 32.19% from the prior-year quarter.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $4.84 per share and revenue of $29.84 billion. These results would represent year-over-year changes of -48.24% and -19.57%, respectively.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.47% lower within the past month. Occidental Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 12.01. Its industry sports an average Forward P/E of 13.64, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
Investors should also note that OXY has a PEG ratio of 0.55 right now. 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 was holding an average PEG ratio of 0.9 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 115, putting it in the top 46% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.