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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
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In the latest close session, Occidental Petroleum (OXY - Free Report) was down 2.85% at $55.47. This change lagged the S&P 500's 1.75% gain on the day. Meanwhile, the Dow experienced a rise of 1.86%, and the technology-dominated Nasdaq saw an increase of 2.54%.
Shares of the oil and gas exploration and production company witnessed a gain of 1.64% over the previous month, beating the performance of the Oils-Energy sector with its loss of 0.13%, and the S&P 500's loss of 1.63%.
The investment community will be closely monitoring the performance of Occidental Petroleum in its forthcoming earnings report. The company is expected to report EPS of $1.89, up 384.62% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.36 billion, up 13.99% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.79 per share and a revenue of $26.35 billion, representing changes of +161.99% and +3.56%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 13.93% higher within the past month. Occidental Petroleum currently has a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Occidental Petroleum is currently exchanging hands at a Forward P/E ratio of 9.87. This signifies a discount in comparison to the average Forward P/E of 19.79 for its industry.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 199, finds itself in the bottom 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
In the latest close session, Occidental Petroleum (OXY - Free Report) was down 2.85% at $55.47. This change lagged the S&P 500's 1.75% gain on the day. Meanwhile, the Dow experienced a rise of 1.86%, and the technology-dominated Nasdaq saw an increase of 2.54%.
Shares of the oil and gas exploration and production company witnessed a gain of 1.64% over the previous month, beating the performance of the Oils-Energy sector with its loss of 0.13%, and the S&P 500's loss of 1.63%.
The investment community will be closely monitoring the performance of Occidental Petroleum in its forthcoming earnings report. The company is expected to report EPS of $1.89, up 384.62% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.36 billion, up 13.99% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.79 per share and a revenue of $26.35 billion, representing changes of +161.99% and +3.56%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 13.93% higher within the past month. Occidental Petroleum currently has a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Occidental Petroleum is currently exchanging hands at a Forward P/E ratio of 9.87. This signifies a discount in comparison to the average Forward P/E of 19.79 for its industry.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 199, finds itself in the bottom 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.