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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $63.10, moving -0.24% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.09%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq added 0.16%.
Shares of the oil and gas exploration and production company witnessed a gain of 2.1% over the previous month, beating the performance of the Oils-Energy sector with its loss of 0.69% and underperforming the S&P 500's gain of 2.83%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company is predicted to post an EPS of $0.94, indicating a 38.24% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $7.39 billion, indicating a 9.78% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $3.88 per share and a revenue of $29.91 billion, demonstrating changes of +4.86% and +3.42%, respectively, from the preceding year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.18% higher. Occidental Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 16.3. This denotes no noticeable deviation relative to the industry's average Forward P/E of 16.3.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
Occidental Petroleum (OXY - Free Report) closed the most recent trading day at $63.10, moving -0.24% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.09%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq added 0.16%.
Shares of the oil and gas exploration and production company witnessed a gain of 2.1% over the previous month, beating the performance of the Oils-Energy sector with its loss of 0.69% and underperforming the S&P 500's gain of 2.83%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company is predicted to post an EPS of $0.94, indicating a 38.24% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $7.39 billion, indicating a 9.78% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $3.88 per share and a revenue of $29.91 billion, demonstrating changes of +4.86% and +3.42%, respectively, from the preceding year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.18% higher. Occidental Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 16.3. This denotes no noticeable deviation relative to the industry's average Forward P/E of 16.3.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.