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

Occidental Petroleum (OXY) closed the most recent trading day at $62.11, moving +1.14% from the previous trading session. This change outpaced the S&P 500's 2.11% loss on the day. At the same time, the Dow lost 1.54%, and the tech-heavy Nasdaq lost 0.3%.

Prior to today's trading, shares of the oil and gas exploration and production company had lost 13.51% over the past month. This has lagged the Oils-Energy sector's loss of 11.61% and the S&P 500's loss of 8.19% in that time.

Occidental Petroleum will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.87, up 229.89% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.91 billion, up 45.43% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $11.01 per share and revenue of $39.04 billion, which would represent changes of +331.76% and +48.35%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.34% higher. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 5.58. Its industry sports an average Forward P/E of 9.64, so we one might conclude that Occidental Petroleum is trading at a discount comparatively.

Also, we should mention that OXY has a PEG ratio of 0.36. 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 0.36 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 171, which puts it in the bottom 33% 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.

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


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