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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

Occidental Petroleum (OXY) closed at $15.35 in the latest trading session, marking a -1.33% move from the prior day. This change lagged the S&P 500's daily gain of 1.45%. Elsewhere, the Dow gained 1.22%, while the tech-heavy Nasdaq added 0.78%.

Prior to today's trading, shares of the oil and gas exploration and production company had gained 31.86% over the past month. This has outpaced the Oils-Energy sector's loss of 17.88% and the S&P 500's loss of 7.42% in that time.

OXY will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.47, down 155.95% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.37 billion, up 31.23% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.31 per share and revenue of $18.95 billion, which would represent changes of -328.28% and -10.73%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for OXY. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 231.51% lower. OXY is currently a Zacks Rank #3 (Hold).

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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