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Has Occidental Petroleum (OXY) Outpaced Other Oils-Energy Stocks This Year?

Zacks Equity Research
·2 min read

Investors focused on the Oils-Energy space have likely heard of Occidental Petroleum (OXY), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.

Occidental Petroleum is one of 253 companies in the Oils-Energy group. The Oils-Energy group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. OXY is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for OXY's full-year earnings has moved 219.80% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Our latest available data shows that OXY has returned about 51.82% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 21.32%. As we can see, Occidental Petroleum is performing better than its sector in the calendar year.

To break things down more, OXY belongs to the Oil and Gas - Integrated - United States industry, a group that includes 11 individual companies and currently sits at #96 in the Zacks Industry Rank. On average, this group has gained an average of 54% so far this year, meaning that OXY is slightly underperforming its industry in terms of year-to-date returns.

OXY will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.


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Zacks Investment Research