We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Occidental Petroleum (OXY) Stock Drops Despite Market Gains: Important Facts to Note
Read MoreHide Full Article
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $43.95, moving -3.68% from the previous trading session. This move lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow saw an upswing of 0.89%, while the tech-heavy Nasdaq appreciated by 0.94%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 10.51% outpaced the Oils-Energy sector's gain of 6.67% and the S&P 500's gain of 0.5%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. The company is forecasted to report an EPS of $0.38, showcasing a 63.11% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $6.45 billion, indicating a 6.28% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.21 per share and a revenue of $26.54 billion, indicating changes of -36.13% and -1.27%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Occidental Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.65% lower. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Occidental Petroleum is currently exchanging hands at a Forward P/E ratio of 20.67. This indicates a premium in contrast to its industry's Forward P/E of 17.31.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Occidental Petroleum (OXY) Stock Drops Despite Market Gains: Important Facts to Note
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $43.95, moving -3.68% from the previous trading session. This move lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow saw an upswing of 0.89%, while the tech-heavy Nasdaq appreciated by 0.94%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 10.51% outpaced the Oils-Energy sector's gain of 6.67% and the S&P 500's gain of 0.5%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. The company is forecasted to report an EPS of $0.38, showcasing a 63.11% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $6.45 billion, indicating a 6.28% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.21 per share and a revenue of $26.54 billion, indicating changes of -36.13% and -1.27%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Occidental Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.65% lower. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Occidental Petroleum is currently exchanging hands at a Forward P/E ratio of 20.67. This indicates a premium in contrast to its industry's Forward P/E of 17.31.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.