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Occidental Petroleum (OXY) Stock Moves -1.17%: What You Should Know
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In the latest close session, Occidental Petroleum (OXY - Free Report) was down 1.17% at $53.04. This change was narrower than the S&P 500's daily loss of 1.22%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 1.35%.
Shares of the oil and gas exploration and production company have depreciated by 11.58% over the course of the past month, underperforming the Oils-Energy sector's loss of 6.85%, and the S&P 500's gain of 1.56%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. The company's earnings per share (EPS) are projected to be $1.89, reflecting a 384.62% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $7.23 billion, indicating a 11.96% upward movement from the same quarter last year.
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 should also take note of any recent adjustments to analyst estimates for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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 shifted 12.58% upward. Occidental Petroleum is holding a Zacks Rank of #2 (Buy) right now.
In the context of valuation, Occidental Petroleum is at present trading with a Forward P/E ratio of 9.27. This expresses a discount compared to the average Forward P/E of 19.66 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 190, putting it in the bottom 23% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Occidental Petroleum (OXY) Stock Moves -1.17%: What You Should Know
In the latest close session, Occidental Petroleum (OXY - Free Report) was down 1.17% at $53.04. This change was narrower than the S&P 500's daily loss of 1.22%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 1.35%.
Shares of the oil and gas exploration and production company have depreciated by 11.58% over the course of the past month, underperforming the Oils-Energy sector's loss of 6.85%, and the S&P 500's gain of 1.56%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. The company's earnings per share (EPS) are projected to be $1.89, reflecting a 384.62% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $7.23 billion, indicating a 11.96% upward movement from the same quarter last year.
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 should also take note of any recent adjustments to analyst estimates for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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 shifted 12.58% upward. Occidental Petroleum is holding a Zacks Rank of #2 (Buy) right now.
In the context of valuation, Occidental Petroleum is at present trading with a Forward P/E ratio of 9.27. This expresses a discount compared to the average Forward P/E of 19.66 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 190, putting it in the bottom 23% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.