Occidental Petroleum (OXY) closed the latest trading day at $50.20, indicating a -0.69% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.61%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.28%.
The oil and gas exploration and production company's shares have seen an increase of 5.05% over the last month, surpassing the Oils-Energy sector's loss of 0.29% and the S&P 500's gain of 2.08%.
Analysts and investors alike will be keeping a close eye on the performance of Occidental Petroleum in its upcoming earnings disclosure. The company's earnings report is set to go public on February 18, 2025. On that day, Occidental Petroleum is projected to report earnings of $0.65 per share, which would represent a year-over-year decline of 12.16%. Our most recent consensus estimate is calling for quarterly revenue of $7.14 billion, down 5.23% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 2.95% fall in the Zacks Consensus EPS estimate. At present, Occidental Petroleum boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Occidental Petroleum is currently exchanging hands at a Forward P/E ratio of 16.11. This represents no noticeable deviation compared to its industry's average Forward P/E of 16.11.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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