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Occidental Petroleum (OXY) Gains But Lags Market: What You Should Know

Zacks Equity Research

In the latest trading session, Occidental Petroleum (OXY) closed at $17.86, marking a +0.96% move from the previous day. This change lagged the S&P 500's 1.47% gain on the day. At the same time, the Dow added 2.32%, and the tech-heavy Nasdaq gained 1.2%.

Coming into today, shares of the oil and gas exploration and production company had gained 29.69% in the past month. In that same time, the Oils-Energy sector lost 2.1%, while the S&P 500 gained 0.74%.

OXY will be looking to display strength as it nears its next earnings release. In that report, analysts expect OXY to post earnings of -$1.53 per share. This would mark a year-over-year decline of 257.73%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.92 billion, down 12.44% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.49 per share and revenue of $19.23 billion. These totals would mark changes of -340.69% and -9.45%, respectively, from last year.

Any recent changes to analyst estimates for OXY should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 14.54% higher. OXY currently has a Zacks Rank of #3 (Hold).

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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