Occidental Petroleum (OXY) closed at $51.72 in the latest trading session, marking a +0.9% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.02%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.04%.

Coming into today, shares of the oil and gas exploration and production company had lost 0.95% in the past month. In that same time, the Oils-Energy sector lost 7.26%, while the S&P 500 gained 3.77%.

The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's earnings report is expected on November 12, 2024. It is anticipated that the company will report an EPS of $0.84, marking a 28.81% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $7.53 billion, up 1.74% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.46 per share and a revenue of $28.05 billion, indicating changes of -6.49% and -3.02%, respectively, from the former 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 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 5.44% lower. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).

In the context of valuation, Occidental Petroleum is at present trading with a Forward P/E ratio of 14.82. This represents a discount compared to its industry's average Forward P/E of 17.96.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank is ordered 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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