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Occidental Petroleum (OXY) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $48.57, marking a -1.06% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.79% for the day. Meanwhile, the Dow experienced a rise of 0.26%, and the technology-dominated Nasdaq saw an increase of 1.52%.
The oil and gas exploration and production company's stock has dropped by 16.68% in the past month, falling short of the Oils-Energy sector's loss of 4.84% and the S&P 500's loss of 1.82%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. In that report, analysts expect Occidental Petroleum to post earnings of $1.85 per share. This would mark year-over-year growth of 374.36%. Meanwhile, our latest consensus estimate is calling for revenue of $7.23 billion, up 11.96% from the prior-year quarter.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $5.95 per share and revenue of $25.57 billion. These results would represent year-over-year changes of +169.23% and +0.5%, respectively.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.08% higher. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Occidental Petroleum is currently exchanging hands at a Forward P/E ratio of 8.25. This expresses a discount compared to the average Forward P/E of 18.15 of its industry.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
View the Zacks #1 Rank List
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Occidental Petroleum (OXY) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $48.57, marking a -1.06% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.79% for the day. Meanwhile, the Dow experienced a rise of 0.26%, and the technology-dominated Nasdaq saw an increase of 1.52%.
The oil and gas exploration and production company's stock has dropped by 16.68% in the past month, falling short of the Oils-Energy sector's loss of 4.84% and the S&P 500's loss of 1.82%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. In that report, analysts expect Occidental Petroleum to post earnings of $1.85 per share. This would mark year-over-year growth of 374.36%. Meanwhile, our latest consensus estimate is calling for revenue of $7.23 billion, up 11.96% from the prior-year quarter.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $5.95 per share and revenue of $25.57 billion. These results would represent year-over-year changes of +169.23% and +0.5%, respectively.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.08% higher. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Occidental Petroleum is currently exchanging hands at a Forward P/E ratio of 8.25. This expresses a discount compared to the average Forward P/E of 18.15 of its industry.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.