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Occidental Petroleum (OXY) Increases Despite Market Slip: Here's What You Need to Know
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Occidental Petroleum (OXY - Free Report) ended the recent trading session at $46.42, demonstrating a +1.44% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.55% for the day. Meanwhile, the Dow experienced a drop of 0.19%, and the technology-dominated Nasdaq saw a decrease of 0.95%.
The oil and gas exploration and production company's stock has dropped by 1.38% in the past month, falling short of the Oils-Energy sector's gain of 1.1% and the S&P 500's gain of 3.64%.
Analysts and investors alike will be keeping a close eye on the performance of Occidental Petroleum in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.49, indicating a 51% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.64 billion, reflecting a 7.18% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.26 per share and revenue of $26.64 billion, indicating changes of -34.68% and -0.88%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, there's been a 1.3% rise in the Zacks Consensus EPS estimate. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Occidental Petroleum is presently trading at a Forward P/E ratio of 20.21. This valuation marks a premium compared to its industry average Forward P/E of 15.75.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 34% echelons 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) Increases Despite Market Slip: Here's What You Need to Know
Occidental Petroleum (OXY - Free Report) ended the recent trading session at $46.42, demonstrating a +1.44% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.55% for the day. Meanwhile, the Dow experienced a drop of 0.19%, and the technology-dominated Nasdaq saw a decrease of 0.95%.
The oil and gas exploration and production company's stock has dropped by 1.38% in the past month, falling short of the Oils-Energy sector's gain of 1.1% and the S&P 500's gain of 3.64%.
Analysts and investors alike will be keeping a close eye on the performance of Occidental Petroleum in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.49, indicating a 51% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.64 billion, reflecting a 7.18% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.26 per share and revenue of $26.64 billion, indicating changes of -34.68% and -0.88%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, there's been a 1.3% rise in the Zacks Consensus EPS estimate. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Occidental Petroleum is presently trading at a Forward P/E ratio of 20.21. This valuation marks a premium compared to its industry average Forward P/E of 15.75.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 34% echelons 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.