Yahoo Finance Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Occidental Petroleum (OXY) closed at $62.09, marking a -0.19% move from the previous day. This change lagged the S&P 500's 1.42% gain on the day. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 5.16%.
Heading into today, shares of the oil and gas exploration and production company had gained 6.23% over the past month, outpacing the Oils-Energy sector's loss of 4.02% and the S&P 500's gain of 0.27% in that time.
Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release. In that report, analysts expect Occidental Petroleum to post earnings of $1.42 per share. This would mark a year-over-year decline of 33.02%. Our most recent consensus estimate is calling for quarterly revenue of $7.71 billion, down 9.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.19 per share and revenue of $31.6 billion, which would represent changes of -33.8% and -14.81%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Occidental Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.5% lower. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Occidental Petroleum has a Forward P/E ratio of 10.05 right now. For comparison, its industry has an average Forward P/E of 10.75, which means Occidental Petroleum is trading at a discount to the group.
Also, we should mention that OXY has a PEG ratio of 0.46. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.46 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report
