Occidental Petroleum (OXY) Exceeds Market Returns: Some Facts to Consider
Occidental Petroleum (OXY) closed at $52.06 in the latest trading session, marking a +1.5% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.03%. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.2%.
Shares of the oil and gas exploration and production company have depreciated by 10.63% over the course of the past month, underperforming the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.54%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. It is anticipated that the company will report an EPS of $0.98, marking a 16.95% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $7.78 billion, reflecting a 5.18% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.71 per share and a revenue of $28.32 billion, indicating changes of +0.27% and -2.06%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Occidental Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.54% higher within the past month. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 13.82. This indicates a discount in contrast to its industry's Forward P/E of 16.81.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 168, finds itself in the bottom 34% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report