Yahoo Finance Occidental Petroleum (OXY) Stock Declines While Market Improves: Some Information for Investors
Occidental Petroleum (OXY) closed the most recent trading day at $59.80, moving -0.83% from the previous trading session. This change lagged the S&P 500's daily gain of 0.23%. Meanwhile, the Dow experienced a drop of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.34%.
Shares of the oil and gas exploration and production company witnessed a loss of 4.86% over the previous month, beating the performance of the Oils-Energy sector with its loss of 4.97% and underperforming the S&P 500's gain of 3.96%.
The investment community will be closely monitoring the performance of Occidental Petroleum in its forthcoming earnings report. On that day, Occidental Petroleum is projected to report earnings of $0.95 per share, which would represent year-over-year growth of 39.71%. Meanwhile, the latest consensus estimate predicts the revenue to be $7.43 billion, indicating a 10.37% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $3.89 per share and a revenue of $30.03 billion, demonstrating changes of +5.14% and +3.84%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.23% downward. As of now, Occidental Petroleum holds a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 15.52. For comparison, its industry has an average Forward P/E of 15.52, which means Occidental Petroleum is trading at no noticeable deviation to the group.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 35% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report
