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Occidental Petroleum (OXY) Stock Moves -0.83%: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed at $16.64 in the latest trading session, marking a -0.83% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.92%. Elsewhere, the Dow lost 1.17%, while the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 56.24% over the past month. This has outpaced the Oils-Energy sector's gain of 28.05% and the S&P 500's gain of 15.69% in that time.
OXY will be looking to display strength as it nears its next earnings release, which is expected to be May 5, 2020. The company is expected to report EPS of -$0.51, down 160.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.28 billion, up 29.05% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for OXY. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 2.95% 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 includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 -0.83%: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $16.64 in the latest trading session, marking a -0.83% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.92%. Elsewhere, the Dow lost 1.17%, while the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the oil and gas exploration and production company had gained 56.24% over the past month. This has outpaced the Oils-Energy sector's gain of 28.05% and the S&P 500's gain of 15.69% in that time.
OXY will be looking to display strength as it nears its next earnings release, which is expected to be May 5, 2020. The company is expected to report EPS of -$0.51, down 160.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.28 billion, up 29.05% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for OXY. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 2.95% 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 includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.