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

The latest trading session saw Occidental Petroleum (OXY) ending at $49.81, denoting a +0.81% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq decreased by 0.16%.Heading into today, shares of the oil and gas exploration and production company had gained 1.04% over the past month, outpacing the Oils-Energy sector's loss of 7.5% and the S&P 500's loss of 2.36% in that time.The investment community will be closely monitoring the performance of Occidental Petroleum in its forthcoming earnings report. The company's upcoming EPS is projected at $0.64, signifying a 13.51% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $7.13 billion, showing a 5.36% drop compared to the year-ago quarter.Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.35% decrease. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).In the context of valuation, Occidental Petroleum is at present trading with a Forward P/E ratio of 15.28. This indicates a premium in contrast to its industry's Forward P/E of 13.84.The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% of all 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Just Released: Zacks Top 10 Stocks for 2024Hurry – you can still get in early on our 10 top tickers for 2025. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2025. You can still be among the first to see these just-released stocks with enormous potential. See New Top 10 Stocks >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks