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Occidental Petroleum (OXY) Gains As Market Dips: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed at $40.68 in the latest trading session, marking a +0.94% move from the prior day. This move outpaced the S&P 500's daily loss of 1.81%. At the same time, the Dow lost 1.47%, and the tech-heavy Nasdaq lost 0.51%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 15.97% over the past month. This has outpaced the Oils-Energy sector's gain of 9.18% and the S&P 500's loss of 1.84% in that time.
Occidental Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Occidental Petroleum to post earnings of $1.08 per share. This would mark year-over-year growth of 238.46%. Meanwhile, our latest consensus estimate is calling for revenue of $7.19 billion, up 114.75% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 36.25% higher. Occidental Petroleum is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 10.4. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 10.4.
We can also see that OXY currently has a PEG ratio of 0.28. 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. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.57 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Occidental Petroleum (OXY) Gains As Market Dips: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $40.68 in the latest trading session, marking a +0.94% move from the prior day. This move outpaced the S&P 500's daily loss of 1.81%. At the same time, the Dow lost 1.47%, and the tech-heavy Nasdaq lost 0.51%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 15.97% over the past month. This has outpaced the Oils-Energy sector's gain of 9.18% and the S&P 500's loss of 1.84% in that time.
Occidental Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Occidental Petroleum to post earnings of $1.08 per share. This would mark year-over-year growth of 238.46%. Meanwhile, our latest consensus estimate is calling for revenue of $7.19 billion, up 114.75% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 36.25% higher. Occidental Petroleum is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 10.4. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 10.4.
We can also see that OXY currently has a PEG ratio of 0.28. 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. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.57 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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 follow all of these stock-moving metrics, and many more, on Zacks.com.