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Occidental Petroleum (OXY) Gains As Market Dips: What You Should Know
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Occidental Petroleum (OXY - Free Report) closed at $19.71 in the latest trading session, marking a +0.2% move from the prior day. This move outpaced the S&P 500's daily loss of 0.57%. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.03%.
Wall Street will be looking for positivity from OXY as it approaches its next earnings report date. In that report, analysts expect OXY to post earnings of -$1.51 per share. This would mark a year-over-year decline of 255.67%. Meanwhile, our latest consensus estimate is calling for revenue of $3.99 billion, down 10.79% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.55 per share and revenue of $19.35 billion. These totals would mark changes of -344.83% and -8.86%, respectively, from last year.
Any recent changes to analyst estimates for OXY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 14.3% higher. OXY is currently a Zacks Rank #3 (Hold).
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.
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Occidental Petroleum (OXY) Gains As Market Dips: What You Should Know
Occidental Petroleum (OXY - Free Report) closed at $19.71 in the latest trading session, marking a +0.2% move from the prior day. This move outpaced the S&P 500's daily loss of 0.57%. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.03%.
Wall Street will be looking for positivity from OXY as it approaches its next earnings report date. In that report, analysts expect OXY to post earnings of -$1.51 per share. This would mark a year-over-year decline of 255.67%. Meanwhile, our latest consensus estimate is calling for revenue of $3.99 billion, down 10.79% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.55 per share and revenue of $19.35 billion. These totals would mark changes of -344.83% and -8.86%, respectively, from last year.
Any recent changes to analyst estimates for OXY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 14.3% higher. OXY is currently a Zacks Rank #3 (Hold).
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.