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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 $57.13 in the latest trading session, marking a -0.21% move from the prior day. This move lagged the S&P 500's daily gain of 1.15%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 7.23%.
Heading into today, shares of the oil and gas exploration and production company had lost 2.87% over the past month, lagging the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% 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%. Our most recent consensus estimate is calling for quarterly revenue of $7.28 billion, down 32.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.84 per share and revenue of $29.84 billion, which would represent changes of -48.24% and -19.57%, respectively, from the prior year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 5.65% lower. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 11.82. Its industry sports an average Forward P/E of 13.48, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
We can also see that OXY currently has a PEG ratio of 0.54. 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. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.91 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 111, which puts it in the top 45% 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 $57.13 in the latest trading session, marking a -0.21% move from the prior day. This move lagged the S&P 500's daily gain of 1.15%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 7.23%.
Heading into today, shares of the oil and gas exploration and production company had lost 2.87% over the past month, lagging the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% 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%. Our most recent consensus estimate is calling for quarterly revenue of $7.28 billion, down 32.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.84 per share and revenue of $29.84 billion, which would represent changes of -48.24% and -19.57%, respectively, from the prior year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 5.65% lower. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 11.82. Its industry sports an average Forward P/E of 13.48, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
We can also see that OXY currently has a PEG ratio of 0.54. 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. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.91 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 111, which puts it in the top 45% 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.