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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed at $39.65 in the latest trading session, marking a -0.5% move from the prior day. This change lagged the S&P 500's 0.09% gain on the day. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 10.6% over the past month. This has outpaced the Oils-Energy sector's gain of 2.92% and the S&P 500's loss of 4.02% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. This 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. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 33.49% higher within the past month. Occidental Petroleum currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 10.22. This valuation marks a discount compared to its industry's average Forward P/E of 10.35.
Also, we should mention that OXY has a PEG ratio of 0.28. 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. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.54 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% 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.
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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $39.65 in the latest trading session, marking a -0.5% move from the prior day. This change lagged the S&P 500's 0.09% gain on the day. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 10.6% over the past month. This has outpaced the Oils-Energy sector's gain of 2.92% and the S&P 500's loss of 4.02% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. This 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. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 33.49% higher within the past month. Occidental Petroleum currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 10.22. This valuation marks a discount compared to its industry's average Forward P/E of 10.35.
Also, we should mention that OXY has a PEG ratio of 0.28. 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. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.54 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% 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.