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Occidental Petroleum (OXY) Stock Moves -0.54%: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $64.83, moving -0.54% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 5.67% over the past month. This has outpaced the Oils-Energy sector's loss of 1.82% and the S&P 500's gain of 2% in that time.
Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release. The company is expected to report EPS of $1.37, down 35.38% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.68 billion, down 10% from the year-ago period.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $5.79 per share and revenue of $31.35 billion. These results would represent year-over-year changes of -38.07% and -15.49%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.52% lower within the past month. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 11.25. For comparison, its industry has an average Forward P/E of 11.27, which means Occidental Petroleum is trading at a discount to the group.
We can also see that OXY currently has a PEG ratio of 0.51. 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 0.51 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 99, putting it in the top 40% 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) Stock Moves -0.54%: What You Should Know
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $64.83, moving -0.54% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 5.67% over the past month. This has outpaced the Oils-Energy sector's loss of 1.82% and the S&P 500's gain of 2% in that time.
Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release. The company is expected to report EPS of $1.37, down 35.38% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.68 billion, down 10% from the year-ago period.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $5.79 per share and revenue of $31.35 billion. These results would represent year-over-year changes of -38.07% and -15.49%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.52% lower within the past month. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 11.25. For comparison, its industry has an average Forward P/E of 11.27, which means Occidental Petroleum is trading at a discount to the group.
We can also see that OXY currently has a PEG ratio of 0.51. 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 0.51 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 99, putting it in the top 40% 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.