The most recent trading session ended with Occidental Petroleum (OXY) standing at $46.37, reflecting a -0.6% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. On the other hand, the Dow registered a loss of 0.28%, and the technology-centric Nasdaq decreased by 1.2%.
Prior to today's trading, shares of the oil and gas exploration and production company had lost 7.64% over the past month. This has lagged the Oils-Energy sector's gain of 4.11% and the S&P 500's gain of 2.71% in that time.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. The company is slated to reveal its earnings on February 18, 2025. The company is predicted to post an EPS of $0.67, indicating a 9.46% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.13 billion, indicating a 5.25% decrease compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. The Zacks Consensus EPS estimate has moved 6.19% higher within the past month. Occidental Petroleum is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 13.59. This indicates a discount in contrast to its industry's Forward P/E of 15.41.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 140, positioning it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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