Occidental Petroleum (OXY) closed the most recent trading day at $15.55, moving +0.65% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.34%. Elsewhere, the Dow gained 0.05%, while the tech-heavy Nasdaq lost 0.69%.
OXY will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$1.64, down 269.07% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.91 billion, down 12.7% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.94 per share and revenue of $19.13 billion, which would represent changes of -371.72% and -9.89%, respectively, from the prior year.
Investors might also notice 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.
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 14.02% lower. OXY is currently sporting 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 89, putting it in the top 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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