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Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know

Occidental Petroleum (OXY) closed the most recent trading day at $15.74, moving -0.19% from the previous trading session. This change lagged the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 1.49%.

Prior to today's trading, shares of the oil and gas exploration and production company had lost 11.31% over the past month. This has lagged the Oils-Energy sector's gain of 0.24% and the S&P 500's gain of 5.03% in that time.

Investors will be hoping for strength from OXY as it approaches its next earnings release, which is expected to be August 10, 2020. On that day, OXY is projected to report earnings of -$1.66 per share, which would represent a year-over-year decline of 271.13%. Our most recent consensus estimate is calling for quarterly revenue of $3.89 billion, down 13.01% from the year-ago period.

OXY's full-year Zacks Consensus Estimates are calling for earnings of -$3.05 per share and revenue of $19.80 billion. These results would represent year-over-year changes of -310.34% and -6.74%, respectively.

Investors should also note any 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 12.81% higher within the past month. OXY is currently a Zacks Rank #3 (Hold).

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.

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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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