Occidental Petroleum (OXY) closed the most recent trading day at $51.30, moving +1.99% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.95%. Meanwhile, the Dow gained 0.94%, and the Nasdaq, a tech-heavy index, added 0.8%.
Coming into today, shares of the oil and gas exploration and production company had lost 4.7% in the past month. In that same time, the Oils-Energy sector lost 1.31%, while the S&P 500 gained 2.47%.
Investors will be hoping for strength from OXY as it approaches its nex t earnings release. In tha t report , analysts expect OXY to post earnings of $1.08 per share. This would mark a year-over-year decline of 1.82%. Our most recent consensus estimate is calling for quarterly revenue of $4.50 billion, up 10.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.80 per share and revenue of $17.24 billion, which would represent changes of -24.15% and -8.7%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for OXY. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 moved 4.15% lower. OXY currently has a Zacks Rank of #3 (Hold).
Investors should also note OXY's current valuation metrics, including its Forward P/E ratio of 13.24. This represents a discount compared to its industry's average Forward P/E of 13.95.
Also, we should mention that OXY has a PEG ratio of 2.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 1.58 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.
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