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 But Lags Market: What You Should Know
Read MoreHide Full Article
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $59.62, moving +0.81% from the previous trading session. This move lagged the S&P 500's daily gain of 1.12%. At the same time, the Dow added 1.01%, and the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the oil and gas exploration and production company had gained 8.45% in the past month. In that same time, the Oils-Energy sector gained 5.27%, while the S&P 500 gained 4.63%.
Occidental Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be May 10, 2022. The company is expected to report EPS of $1.66, up 1206.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.44 billion, up 35.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.96 per share and revenue of $32.41 billion, which would represent changes of +212.16% and +23.16%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These recent revisions tend to reflect the evolving nature of short-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. Over the past month, the Zacks Consensus EPS estimate has moved 61.51% 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 7.43. This valuation marks a discount compared to its industry's average Forward P/E of 13.51.
We can also see that OXY currently has a PEG ratio of 0.22. 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. OXY's industry had an average PEG ratio of 0.4 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 7, putting it in the top 3% 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.
Be sure to follow all of these stock-moving metrics, and many more, on 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 But Lags Market: What You Should Know
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $59.62, moving +0.81% from the previous trading session. This move lagged the S&P 500's daily gain of 1.12%. At the same time, the Dow added 1.01%, and the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the oil and gas exploration and production company had gained 8.45% in the past month. In that same time, the Oils-Energy sector gained 5.27%, while the S&P 500 gained 4.63%.
Occidental Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be May 10, 2022. The company is expected to report EPS of $1.66, up 1206.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.44 billion, up 35.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.96 per share and revenue of $32.41 billion, which would represent changes of +212.16% and +23.16%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These recent revisions tend to reflect the evolving nature of short-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. Over the past month, the Zacks Consensus EPS estimate has moved 61.51% 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 7.43. This valuation marks a discount compared to its industry's average Forward P/E of 13.51.
We can also see that OXY currently has a PEG ratio of 0.22. 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. OXY's industry had an average PEG ratio of 0.4 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 7, putting it in the top 3% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.