Occidental Petroleum (OXY) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Occidental Petroleum (OXY) standing at $64.20, reflecting a +1.39% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.86%. Meanwhile, the Dow gained 1.22%, and the Nasdaq, a tech-heavy index, added 0.51%.
Coming into today, shares of the oil and gas exploration and production company had gained 4.49% in the past month. In that same time, the Oils-Energy sector gained 5.4%, while the S&P 500 gained 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of Occidental Petroleum in its upcoming earnings disclosure. The company is expected to report EPS of $0.63, down 42.2% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.72 billion, down 7.42% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.56 per share and revenue of $30.09 billion. These totals would mark changes of -3.78% and +4.04%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an 8.3% decrease. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 17.79. This indicates a premium in contrast to its industry's Forward P/E of 15.16.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report
