Occidental Petroleum (OXY) ended the recent trading session at $39.83, demonstrating a -0.35% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.67%. Elsewhere, the Dow gained 1.07%, while the tech-heavy Nasdaq added 2.5%.
Shares of the oil and gas exploration and production company have depreciated by 18.45% over the course of the past month, underperforming the Oils-Energy sector's loss of 10.69% and the S&P 500's loss of 6.57%.
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 May 7, 2025. The company's earnings per share (EPS) are projected to be $0.72, reflecting a 10.77% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $7.09 billion, showing a 17.95% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.63 per share and revenue of $28.8 billion, indicating changes of -23.99% and +7.14%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 17.92% lower. As of now, Occidental Petroleum holds a Zacks Rank of #3 (Hold).
Investors should also note Occidental Petroleum's current valuation metrics, including its Forward P/E ratio of 15.19. This expresses a premium compared to the average Forward P/E of 13.7 of its industry.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 62, putting it in the top 25% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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Occidental Petroleum Corporation (OXY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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