In the latest trading session, Occidental Petroleum (OXY) closed at $54.94, marking a -2.07% move from the previous day. This change lagged the S&P 500’s 0.17% loss on the day. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.09%.
The oil and gas exploration and production company’s stock has dropped by 6.78% in the past month, falling short of the Oils-Energy sector’s gain of 0.04% and the S&P 500’s loss of 0.24%.
The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company’s earnings per share (EPS) are projected to be $1.37, reflecting a 114.06% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $6.61 billion, down 1.58% from the year-ago period.
OXY’s full-year Zacks Consensus Estimates are calling for earnings of $6.2 per share and revenue of $26.89 billion. These results would represent year-over-year changes of +180.54% and +5.71%, respectively.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.71% upward. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 9.05. This represents a discount compared to its industry average Forward P/E of 19.83.
Meanwhile, OXY’s PEG ratio is currently 0.87. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. Oil and Gas – Integrated – United States stocks are, on average, holding a PEG ratio of 1.73 based on yesterday’s closing prices.
The Oil and Gas – Integrated – United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 203, positioning it in the bottom 18% of all 250+ industries.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
