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Occidental Petroleum (OXY) Stock Drops Despite Market Gains: Important Facts to Note
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The latest trading session saw Occidental Petroleum (OXY - Free Report) ending at $50.66, denoting a -1.42% adjustment from its last day's close. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 2.17%.
Heading into today, shares of the oil and gas exploration and production company had lost 10.56% over the past month, lagging the Oils-Energy sector's loss of 4.22% and the S&P 500's gain of 2.92% in that time.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's upcoming EPS is projected at $0.98, signifying a 16.95% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $7.78 billion, reflecting a 5.18% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.66 per share and a revenue of $28.78 billion, signifying shifts of -1.08% and -0.48%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.95% downward. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 14.03. Its industry sports an average Forward P/E of 15.02, so one might conclude that Occidental Petroleum is trading at a discount comparatively.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Occidental Petroleum (OXY) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw Occidental Petroleum (OXY - Free Report) ending at $50.66, denoting a -1.42% adjustment from its last day's close. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 2.17%.
Heading into today, shares of the oil and gas exploration and production company had lost 10.56% over the past month, lagging the Oils-Energy sector's loss of 4.22% and the S&P 500's gain of 2.92% in that time.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's upcoming EPS is projected at $0.98, signifying a 16.95% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $7.78 billion, reflecting a 5.18% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.66 per share and a revenue of $28.78 billion, signifying shifts of -1.08% and -0.48%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.95% downward. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 14.03. Its industry sports an average Forward P/E of 15.02, so one might conclude that Occidental Petroleum is trading at a discount comparatively.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.