Occidental Petroleum (OXY) closed at $40.47 in the latest trading session, marking a -1.77% move from the prior day. This change lagged the S&P 500's 0.09% loss on the day. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, added 0.06%.
Heading into today, shares of the oil and gas exploration and production company had lost 0.02% over the past month, outpacing the Oils-Energy sector's loss of 5.15% and lagging the S&P 500's gain of 1.26% in that time.
Wall Street will be looking for positivity from OXY as it approaches its next earnings report date. This is expected to be February 27, 2020. In that report, analysts expect OXY to post earnings of $0.14 per share. This would mark a year-over-year decline of 88.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.43 billion, up 33.93% from the year-ago period.
It is also important to note the recent changes to analyst estimates for OXY. These revisions help to show the ever-changing nature of 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. 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. The Zacks Consensus EPS estimate has moved 14.84% higher within the past month. OXY currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that OXY has a Forward P/E ratio of 27.54 right now. This represents a premium compared to its industry's average Forward P/E of 17.23.
It is also worth noting that OXY currently has a PEG ratio of 5.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OXY's industry had an average PEG ratio of 2.31 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 94, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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