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Occidental Petroleum (OXY) Laps the Stock Market: Here's Why
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The most recent trading session ended with Occidental Petroleum (OXY - Free Report) standing at $51.54, reflecting a +1% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.42%. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq gained 0.38%.
Heading into today, shares of the oil and gas exploration and production company had lost 10.44% over the past month, lagging the Oils-Energy sector's loss of 2.47% and the S&P 500's gain of 2.06% in that time.
Investors will be eagerly watching for the performance of Occidental Petroleum in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.91, showcasing a 22.88% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.67 billion, up 3.58% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.57 per share and a revenue of $28.32 billion, indicating changes of -3.51% and -2.06%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Occidental Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 2.43% fall in the Zacks Consensus EPS estimate. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Occidental Petroleum is presently being traded at a Forward P/E ratio of 14.28. This denotes a discount relative to the industry's average Forward P/E of 15.93.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 183, this industry ranks in the bottom 28% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Laps the Stock Market: Here's Why
The most recent trading session ended with Occidental Petroleum (OXY - Free Report) standing at $51.54, reflecting a +1% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.42%. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq gained 0.38%.
Heading into today, shares of the oil and gas exploration and production company had lost 10.44% over the past month, lagging the Oils-Energy sector's loss of 2.47% and the S&P 500's gain of 2.06% in that time.
Investors will be eagerly watching for the performance of Occidental Petroleum in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.91, showcasing a 22.88% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.67 billion, up 3.58% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.57 per share and a revenue of $28.32 billion, indicating changes of -3.51% and -2.06%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Occidental Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 2.43% fall in the Zacks Consensus EPS estimate. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Occidental Petroleum is presently being traded at a Forward P/E ratio of 14.28. This denotes a discount relative to the industry's average Forward P/E of 15.93.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 183, this industry ranks in the bottom 28% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.