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Occidental Petroleum (OXY) Gains But Lags Market: What You Should Know
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In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $56.79, marking a +0.26% move from the previous day. The stock lagged the S&P 500's daily gain of 1.23%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 0.44%.
Coming into today, shares of the oil and gas exploration and production company had gained 29.52% in the past month. In that same time, the Oils-Energy sector gained 7.99%, while the S&P 500 gained 4.69%.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. The company is expected to report EPS of $1.38, up 1020% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.26 billion, up 32.53% from the year-ago period.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $5.27 per share and revenue of $29.2 billion. These results would represent year-over-year changes of +106.67% and +10.95%, respectively.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 26.18% higher. Occidental Petroleum is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 10.75. Its industry sports an average Forward P/E of 11.43, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
It is also worth noting that OXY currently has a PEG ratio of 0.32. 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. OXY's industry 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 30, putting it in the top 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Occidental Petroleum (OXY) Gains But Lags Market: What You Should Know
In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $56.79, marking a +0.26% move from the previous day. The stock lagged the S&P 500's daily gain of 1.23%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 0.44%.
Coming into today, shares of the oil and gas exploration and production company had gained 29.52% in the past month. In that same time, the Oils-Energy sector gained 7.99%, while the S&P 500 gained 4.69%.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. The company is expected to report EPS of $1.38, up 1020% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.26 billion, up 32.53% from the year-ago period.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $5.27 per share and revenue of $29.2 billion. These results would represent year-over-year changes of +106.67% and +10.95%, respectively.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 26.18% higher. Occidental Petroleum is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 10.75. Its industry sports an average Forward P/E of 11.43, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
It is also worth noting that OXY currently has a PEG ratio of 0.32. 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. OXY's industry 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 30, putting it in the top 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.