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Occidental Petroleum (OXY) Advances While Market Declines: Some Information for Investors
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Occidental Petroleum (OXY - Free Report) ended the recent trading session at $66.24, demonstrating a +1.41% change from the preceding day's closing price. This change outpaced the S&P 500's 0.4% loss on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 0.73%.
Heading into today, shares of the oil and gas exploration and production company had gained 23.06% over the past month, outpacing the Oils-Energy sector's gain of 10.64% and the S&P 500's loss of 7.34%.
Investors will be eagerly watching for the performance of Occidental Petroleum in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.54, indicating a 37.93% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.26 billion, down 23.07% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.71 per share and revenue of $22.49 billion, indicating changes of +22.62% and -11.57%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 207.98% higher. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 24.07. This expresses a premium compared to the average Forward P/E of 20.4 of its industry.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Occidental Petroleum (OXY) Advances While Market Declines: Some Information for Investors
Occidental Petroleum (OXY - Free Report) ended the recent trading session at $66.24, demonstrating a +1.41% change from the preceding day's closing price. This change outpaced the S&P 500's 0.4% loss on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 0.73%.
Heading into today, shares of the oil and gas exploration and production company had gained 23.06% over the past month, outpacing the Oils-Energy sector's gain of 10.64% and the S&P 500's loss of 7.34%.
Investors will be eagerly watching for the performance of Occidental Petroleum in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.54, indicating a 37.93% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.26 billion, down 23.07% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.71 per share and revenue of $22.49 billion, indicating changes of +22.62% and -11.57%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 207.98% higher. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 24.07. This expresses a premium compared to the average Forward P/E of 20.4 of its industry.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.