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Occidental Petroleum (OXY) Stock Declines While Market Improves: Some Information for Investors
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The most recent trading session ended with Occidental Petroleum (OXY - Free Report) standing at $58.22, reflecting a -0.31% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.76%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 1.12%.
Shares of the oil and gas exploration and production company have depreciated by 2.19% over the course of the past month, outperforming the Oils-Energy sector's loss of 2.82% and lagging the S&P 500's gain of 2.5%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's earnings report is expected on February 14, 2024. The company is expected to report EPS of $0.82, down 49.07% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.25 billion, down 12.9% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 23.28% decrease. Occidental Petroleum presently features a Zacks Rank of #4 (Sell).
Looking at valuation, Occidental Petroleum is presently trading at a Forward P/E ratio of 13.37. This valuation marks a premium compared to its industry's average Forward P/E of 12.91.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 232, positioning it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Occidental Petroleum (OXY) Stock Declines While Market Improves: Some Information for Investors
The most recent trading session ended with Occidental Petroleum (OXY - Free Report) standing at $58.22, reflecting a -0.31% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.76%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 1.12%.
Shares of the oil and gas exploration and production company have depreciated by 2.19% over the course of the past month, outperforming the Oils-Energy sector's loss of 2.82% and lagging the S&P 500's gain of 2.5%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's earnings report is expected on February 14, 2024. The company is expected to report EPS of $0.82, down 49.07% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.25 billion, down 12.9% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 23.28% decrease. Occidental Petroleum presently features a Zacks Rank of #4 (Sell).
Looking at valuation, Occidental Petroleum is presently trading at a Forward P/E ratio of 13.37. This valuation marks a premium compared to its industry's average Forward P/E of 12.91.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 232, positioning it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.