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The most recent trading session ended with Occidental Petroleum (OXY) standing at $49.56, reflecting a +0.55% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 1.46%. On the other hand, the Dow registered a gain of 0.65%, and the technology-centric Nasdaq decreased by 3.07%.
The the stock of oil and gas exploration and production company has risen by 1.5% in the past month, leading the Oils-Energy sector's loss of 3.28% and the S&P 500's gain of 1.08%.
Investors will be eagerly watching for the performance of Occidental Petroleum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 18, 2025. On that day, Occidental Petroleum is projected to report earnings of $0.67 per share, which would represent a year-over-year decline of 9.46%. At the same time, our most recent consensus estimate is projecting a revenue of $7.13 billion, reflecting a 5.32% fall from the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 6.07% rise in the Zacks Consensus EPS estimate. Currently, Occidental Petroleum is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Occidental Petroleum is currently being traded at a Forward P/E ratio of 14.37. This valuation marks a discount compared to its industry's average Forward P/E of 15.91.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.