Occidental Petroleum (OXY) ended the recent trading session at $48.20, demonstrating a +0.17% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.04%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 0.05%.

The the stock of oil and gas exploration and production company has fallen by 4.37% in the past month, leading the Oils-Energy sector's loss of 8.03% and undershooting the S&P 500's gain of 1.05%.

Investors will be eagerly watching for the performance of Occidental Petroleum in its upcoming earnings disclosure. On that day, Occidental Petroleum is projected to report earnings of $0.64 per share, which would represent a year-over-year decline of 13.51%. Alongside, our most recent consensus estimate is anticipating revenue of $7.13 billion, indicating a 5.36% downward movement from the same quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.36 per share and revenue of $27.15 billion, indicating changes of -9.19% and -6.1%, respectively, compared to the previous year.

Investors should also note any recent changes to analyst estimates for Occidental Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has remained steady. As of now, Occidental Petroleum holds a Zacks Rank of #3 (Hold).

With respect to valuation, Occidental Petroleum is currently being traded at a Forward P/E ratio of 14.33. For comparison, its industry has an average Forward P/E of 16.77, which means Occidental Petroleum is trading at a discount to the group.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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