Occidental Petroleum (OXY Quick QuoteOXY - Free Report) closed the most recent trading day at $52.24, moving +1.16% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.15%.

Heading into today, shares of the oil and gas exploration and production company had lost 9.78% over the past month, lagging the Oils-Energy sector's gain of 0.29% and the S&P 500's gain of 2% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Occidental Petroleum in its upcoming earnings disclosure. In that report, analysts expect Occidental Petroleum to post earnings of $0.91 per share. This would mark a year-over-year decline of 22.88%. In the meantime, our current consensus estimate forecasts the revenue to be $7.67 billion, indicating a 3.58% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates project earnings of $3.57 per share and a revenue of $28.32 billion, demonstrating changes of -3.51% and -2.06%, respectively, from the preceding year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.17% lower. Occidental Petroleum is holding a Zacks Rank of #3 (Hold) right now.

In the context of valuation, Occidental Petroleum is at present trading with a Forward P/E ratio of 14.45. This expresses a discount compared to the average Forward P/E of 16.75 of its industry.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 188, this industry ranks in the bottom 26% of all industries, numbering over 250.

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.

You can find more information on all of these metrics, and much more, on Zacks.com.