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Occidental Petroleum (OXY) Stock Moves 0.44%: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed at $64.37 in the latest trading session, marking a +0.44% move from the prior day. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 1.92%.
Heading into today, shares of the oil and gas exploration and production company had gained 8.35% over the past month, outpacing the Oils-Energy sector's gain of 2.17% and the S&P 500's gain of 6.51% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. This is expected to be May 9, 2023. The company is expected to report EPS of $1.37, down 35.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.68 billion, down 10% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.79 per share and revenue of $31.35 billion, which would represent changes of -38.07% and -15.49%, respectively, from the prior year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 5.22% lower within the past month. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 11.06. Its industry sports an average Forward P/E of 11.06, so we one might conclude that Occidental Petroleum is trading at a no noticeable deviation comparatively.
Also, we should mention that OXY has a PEG ratio of 0.5. 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 0.53 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 103, which puts it in the top 41% 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 0.44%: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $64.37 in the latest trading session, marking a +0.44% move from the prior day. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 1.92%.
Heading into today, shares of the oil and gas exploration and production company had gained 8.35% over the past month, outpacing the Oils-Energy sector's gain of 2.17% and the S&P 500's gain of 6.51% in that time.
Wall Street will be looking for positivity from Occidental Petroleum as it approaches its next earnings report date. This is expected to be May 9, 2023. The company is expected to report EPS of $1.37, down 35.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.68 billion, down 10% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.79 per share and revenue of $31.35 billion, which would represent changes of -38.07% and -15.49%, respectively, from the prior year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 5.22% lower within the past month. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 11.06. Its industry sports an average Forward P/E of 11.06, so we one might conclude that Occidental Petroleum is trading at a no noticeable deviation comparatively.
Also, we should mention that OXY has a PEG ratio of 0.5. 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 0.53 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 103, which puts it in the top 41% 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.