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Occidental Petroleum (OXY) Rises But Trails Market: What Investors Should Know
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Occidental Petroleum (OXY - Free Report) closed the latest trading day at $52.70, indicating a +1.19% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.83%. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.45%.
The the stock of oil and gas exploration and production company has risen by 11.86% in the past month, leading the Oils-Energy sector's loss of 7.35% and the S&P 500's loss of 3.31%.
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. In that report, analysts expect Occidental Petroleum to post earnings of $0.65 per share. This would mark a year-over-year decline of 12.16%. In the meantime, our current consensus estimate forecasts the revenue to be $7.12 billion, indicating a 5.39% decline compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection has moved 9.4% lower. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 17.02. For comparison, its industry has an average Forward P/E of 15.97, which means Occidental Petroleum is trading at a premium to the group.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Occidental Petroleum (OXY) Rises But Trails Market: What Investors Should Know
Occidental Petroleum (OXY - Free Report) closed the latest trading day at $52.70, indicating a +1.19% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.83%. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.45%.
The the stock of oil and gas exploration and production company has risen by 11.86% in the past month, leading the Oils-Energy sector's loss of 7.35% and the S&P 500's loss of 3.31%.
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. In that report, analysts expect Occidental Petroleum to post earnings of $0.65 per share. This would mark a year-over-year decline of 12.16%. In the meantime, our current consensus estimate forecasts the revenue to be $7.12 billion, indicating a 5.39% decline compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection has moved 9.4% lower. Right now, Occidental Petroleum possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 17.02. For comparison, its industry has an average Forward P/E of 15.97, which means Occidental Petroleum is trading at a premium to the group.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.