The most recent trading session ended with Occidental Petroleum (OXY) standing at $51.19, reflecting a -0.7% shift from the previouse trading day’s closing. The stock trailed the S&P 500, which registered a daily gain of 0.16%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq lost 0.06%.
Prior to today’s trading, shares of the oil and gas exploration and production company had gained 5.61% over the past month. This has outpaced the Oils-Energy sector’s loss of 11.11% and the S&P 500’s loss of 2.7% in that time.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company’s earnings report is expected on February 18, 2025. The company’s upcoming EPS is projected at $0.64, signifying a 13.51% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $7.13 billion, indicating a 5.36% decline compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Occidental Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.25% lower within the past month. Occidental Petroleum presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 15.84. This expresses a premium compared to the average Forward P/E of 14.28 of its industry.
The Oil and Gas – Integrated – United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.