We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Occidental Petroleum (OXY) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
Occidental Petroleum (OXY - Free Report) closed at $59.84 in the latest trading session, marking a +0.34% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.23%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Coming into today, shares of the oil and gas exploration and production company had gained 55.64% in the past month. In that same time, the Oils-Energy sector gained 9.54%, while the S&P 500 gained 5.04%.
Occidental Petroleum will be looking to display strength as it nears its next earnings release. In that report, analysts expect Occidental Petroleum to post earnings of $1.27 per share. This would mark year-over-year growth of 946.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.26 billion, up 32.53% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.01 per share and revenue of $29.2 billion. These totals would mark changes of +96.47% and +10.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. 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. 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, 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 28.51% higher within the past month. Occidental Petroleum is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 11.91. Its industry sports an average Forward P/E of 11.91, so we one might conclude that Occidental Petroleum is trading at a no noticeable deviation comparatively.
Meanwhile, OXY's PEG ratio is currently 0.35. 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 0.49 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 54, putting it in the top 22% 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.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Occidental Petroleum (OXY) Gains As Market Dips: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $59.84 in the latest trading session, marking a +0.34% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.23%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Coming into today, shares of the oil and gas exploration and production company had gained 55.64% in the past month. In that same time, the Oils-Energy sector gained 9.54%, while the S&P 500 gained 5.04%.
Occidental Petroleum will be looking to display strength as it nears its next earnings release. In that report, analysts expect Occidental Petroleum to post earnings of $1.27 per share. This would mark year-over-year growth of 946.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.26 billion, up 32.53% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.01 per share and revenue of $29.2 billion. These totals would mark changes of +96.47% and +10.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. 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. 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, 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 28.51% higher within the past month. Occidental Petroleum is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 11.91. Its industry sports an average Forward P/E of 11.91, so we one might conclude that Occidental Petroleum is trading at a no noticeable deviation comparatively.
Meanwhile, OXY's PEG ratio is currently 0.35. 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 0.49 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 54, putting it in the top 22% 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.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.