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Occidental Petroleum (OXY) Stock Moves -0.95%: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed at $58.48 in the latest trading session, marking a -0.95% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Coming into today, shares of the oil and gas exploration and production company had lost 5.54% in the past month. In that same time, the Oils-Energy sector lost 10.83%, while the S&P 500 lost 3.02%.
Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release. On that day, Occidental Petroleum is projected to report earnings of $1.41 per share, which would represent a year-over-year decline of 33.49%. Our most recent consensus estimate is calling for quarterly revenue of $7.71 billion, down 9.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.19 per share and revenue of $31.6 billion. These totals would mark changes of -33.8% and -14.81%, respectively, from last year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 5.46% lower. Occidental Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 9.54. Its industry sports an average Forward P/E of 10.66, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
We can also see that OXY currently has a PEG ratio of 0.43. 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 0.43 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 98, which puts it in the top 39% 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 Moves -0.95%: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $58.48 in the latest trading session, marking a -0.95% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Coming into today, shares of the oil and gas exploration and production company had lost 5.54% in the past month. In that same time, the Oils-Energy sector lost 10.83%, while the S&P 500 lost 3.02%.
Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release. On that day, Occidental Petroleum is projected to report earnings of $1.41 per share, which would represent a year-over-year decline of 33.49%. Our most recent consensus estimate is calling for quarterly revenue of $7.71 billion, down 9.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.19 per share and revenue of $31.6 billion. These totals would mark changes of -33.8% and -14.81%, respectively, from last year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 5.46% lower. Occidental Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 9.54. Its industry sports an average Forward P/E of 10.66, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.
We can also see that OXY currently has a PEG ratio of 0.43. 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 0.43 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 98, which puts it in the top 39% 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.