Occidental Petroleum (OXY) Ascends But Remains Behind Market: Some Facts to Note

Occidental Petroleum (OXY) closed the most recent trading day at $37.90, moving +0.61% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.79%. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, added 0.64%.The oil and gas exploration and production company's shares have seen a decrease of 19.04% over the last month, not keeping up with the Oils-Energy sector's loss of 8.15% and the S&P 500's loss of 3.56%.The upcoming earnings release of Occidental Petroleum will be of great interest to investors. The company's earnings report is expected on May 7, 2025. In that report, analysts expect Occidental Petroleum to post earnings of $0.75 per share. This would mark year-over-year growth of 15.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.04 billion, up 17.08% from the year-ago period.For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.14 per share and a revenue of $29.2 billion, signifying shifts of -9.25% and +8.61%, respectively, from the last year.Investors should also take note of any recent adjustments to analyst estimates for Occidental Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.19% lower 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 12.01. Its industry sports an average Forward P/E of 12.24, so one might conclude that Occidental Petroleum is trading at a discount comparatively.The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 149, placing it within the bottom 40% of over 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.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Occidental Petroleum Corporation (OXY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks