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

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·3 min read
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In the latest trading session, Occidental Petroleum (OXY) closed at $59.11, marking no change from the previous day. This move lagged the S&P 500's daily gain of 0.36%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.1%.

Coming into today, shares of the oil and gas exploration and production company had lost 16.22% in the past month. In that same time, the Oils-Energy sector lost 19.28%, while the S&P 500 lost 6.59%.

Investors will be hoping for strength from Occidental Petroleum as it approaches its next earnings release. On that day, Occidental Petroleum is projected to report earnings of $2.90 per share, which would represent year-over-year growth of 806.25%. Our most recent consensus estimate is calling for quarterly revenue of $9.64 billion, up 60.32% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $10.36 per share and revenue of $37.13 billion, which would represent changes of +306.27% and +41.09%, respectively, from the prior year.

Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.5% higher. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 5.71. For comparison, its industry has an average Forward P/E of 10.43, which means Occidental Petroleum is trading at a discount to the group.

Investors should also note that OXY has a PEG ratio of 0.18 right now. 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 was holding an average PEG ratio of 0.29 at yesterday's closing price.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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