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Occidental Petroleum (OXY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $56.10, moving -1.34% from the previous trading session. This change lagged the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.67%, and the tech-heavy Nasdaq lost 0.92%.
Coming into today, shares of the oil and gas exploration and production company had lost 3.79% in the past month. In that same time, the Oils-Energy sector gained 1.13%, while the S&P 500 gained 0.96%.
Analysts and investors alike will be keeping a close eye on the performance of Occidental Petroleum in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.37, reflecting a 114.06% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $6.61 billion, indicating a 1.58% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.2 per share and revenue of $26.89 billion, which would represent changes of +180.54% and +5.71%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.71% increase. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Occidental Petroleum is at present trading with a Forward P/E ratio of 9.18. This valuation marks a discount compared to its industry average Forward P/E of 19.95.
Also, we should mention that OXY has a PEG ratio of 0.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Integrated - United States industry had an average PEG ratio of 1.76.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 32% of over 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Occidental Petroleum (OXY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $56.10, moving -1.34% from the previous trading session. This change lagged the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.67%, and the tech-heavy Nasdaq lost 0.92%.
Coming into today, shares of the oil and gas exploration and production company had lost 3.79% in the past month. In that same time, the Oils-Energy sector gained 1.13%, while the S&P 500 gained 0.96%.
Analysts and investors alike will be keeping a close eye on the performance of Occidental Petroleum in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.37, reflecting a 114.06% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $6.61 billion, indicating a 1.58% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.2 per share and revenue of $26.89 billion, which would represent changes of +180.54% and +5.71%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.71% increase. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Occidental Petroleum is at present trading with a Forward P/E ratio of 9.18. This valuation marks a discount compared to its industry average Forward P/E of 19.95.
Also, we should mention that OXY has a PEG ratio of 0.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Integrated - United States industry had an average PEG ratio of 1.76.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 32% of over 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 follow all of these stock-moving metrics, and many more, on Zacks.com.