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Occidental Petroleum (OXY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $54.94, marking a -2.07% move from the previous day. This change lagged the S&P 500's 0.17% loss on the day. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.09%.
The oil and gas exploration and production company's stock has dropped by 6.78% in the past month, falling short of the Oils-Energy sector's gain of 0.04% and the S&P 500's loss of 0.24%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.37, reflecting a 114.06% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $6.61 billion, down 1.58% from the year-ago period.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $6.2 per share and revenue of $26.89 billion. These results would represent year-over-year changes of +180.54% and +5.71%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.71% upward. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 9.05. This represents a discount compared to its industry average Forward P/E of 19.83.
Meanwhile, OXY's PEG ratio is currently 0.87. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 1.73 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 203, positioning it in the bottom 18% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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
In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $54.94, marking a -2.07% move from the previous day. This change lagged the S&P 500's 0.17% loss on the day. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.09%.
The oil and gas exploration and production company's stock has dropped by 6.78% in the past month, falling short of the Oils-Energy sector's gain of 0.04% and the S&P 500's loss of 0.24%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.37, reflecting a 114.06% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $6.61 billion, down 1.58% from the year-ago period.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $6.2 per share and revenue of $26.89 billion. These results would represent year-over-year changes of +180.54% and +5.71%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.71% upward. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 9.05. This represents a discount compared to its industry average Forward P/E of 19.83.
Meanwhile, OXY's PEG ratio is currently 0.87. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 1.73 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 203, positioning it in the bottom 18% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.