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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $13.82, marking a -0.4% move from the previous day. This change lagged the S&P 500's daily gain of 1.39%. Meanwhile, the Dow gained 1.11%, and the Nasdaq, a tech-heavy index, added 1.65%.
Heading into today, shares of the oil and gas exploration and production company had gained 8.11% over the past month, lagging the Oils-Energy sector's gain of 35.29% and the S&P 500's gain of 25.31% in that time.
Investors will be hoping for strength from OXY as it approaches its next earnings release, which is expected to be May 5, 2020. On that day, OXY is projected to report earnings of -$0.51 per share, which would represent a year-over-year decline of 160.71%. Meanwhile, our latest consensus estimate is calling for revenue of $5.28 billion, up 29.05% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.56 per share and revenue of $18.51 billion, which would represent changes of -345.52% and -12.81%, respectively, from the prior year.
Any recent changes to analyst estimates for OXY should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 30.9% lower. OXY is holding a Zacks Rank of #3 (Hold) right now.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% 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 Sinks As Market Gains: What You Should Know
In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $13.82, marking a -0.4% move from the previous day. This change lagged the S&P 500's daily gain of 1.39%. Meanwhile, the Dow gained 1.11%, and the Nasdaq, a tech-heavy index, added 1.65%.
Heading into today, shares of the oil and gas exploration and production company had gained 8.11% over the past month, lagging the Oils-Energy sector's gain of 35.29% and the S&P 500's gain of 25.31% in that time.
Investors will be hoping for strength from OXY as it approaches its next earnings release, which is expected to be May 5, 2020. On that day, OXY is projected to report earnings of -$0.51 per share, which would represent a year-over-year decline of 160.71%. Meanwhile, our latest consensus estimate is calling for revenue of $5.28 billion, up 29.05% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.56 per share and revenue of $18.51 billion, which would represent changes of -345.52% and -12.81%, respectively, from the prior year.
Any recent changes to analyst estimates for OXY should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 30.9% lower. OXY is holding a Zacks Rank of #3 (Hold) right now.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% 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.