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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 $54.53 in the latest trading session, marking a -1.91% move from the prior day. This change lagged the S&P 500's 2.14% gain on the day. Meanwhile, the Dow gained 1.82%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Coming into today, shares of the oil and gas exploration and production company had gained 34.83% in the past month. In that same time, the Oils-Energy sector gained 2.39%, while the S&P 500 lost 5.01%.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. On that day, Occidental Petroleum is projected to report earnings of $1.24 per share, which would represent year-over-year growth of 926.67%. Meanwhile, our latest consensus estimate is calling for revenue of $7.26 billion, up 32.53% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.93 per share and revenue of $29.2 billion. These totals would mark changes of +93.33% and +10.95%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 27.24% 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 11.27. For comparison, its industry has an average Forward P/E of 11.27, which means Occidental Petroleum is trading at a no noticeable deviation to the group.
Also, we should mention that OXY has a PEG ratio of 0.33. 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 was holding an average PEG ratio of 0.47 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 33, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.
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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $54.53 in the latest trading session, marking a -1.91% move from the prior day. This change lagged the S&P 500's 2.14% gain on the day. Meanwhile, the Dow gained 1.82%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Coming into today, shares of the oil and gas exploration and production company had gained 34.83% in the past month. In that same time, the Oils-Energy sector gained 2.39%, while the S&P 500 lost 5.01%.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. On that day, Occidental Petroleum is projected to report earnings of $1.24 per share, which would represent year-over-year growth of 926.67%. Meanwhile, our latest consensus estimate is calling for revenue of $7.26 billion, up 32.53% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.93 per share and revenue of $29.2 billion. These totals would mark changes of +93.33% and +10.95%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 27.24% 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 11.27. For comparison, its industry has an average Forward P/E of 11.27, which means Occidental Petroleum is trading at a no noticeable deviation to the group.
Also, we should mention that OXY has a PEG ratio of 0.33. 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 was holding an average PEG ratio of 0.47 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 33, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.