Occidental Petroleum (OXY) closed at $40.35 in the latest trading session, marking a -0.39% move from the prior day. This change lagged the S&P 500's 0.58% gain on the day. Elsewhere, the Dow gained 0.75%, while the tech-heavy Nasdaq added 0.55%.
Shares of the oil and gas exploration and production company have depreciated by 17.93% over the course of the past month, underperforming the Oils-Energy sector's loss of 8.92% and the S&P 500's loss of 0.84%.
Market participants will be closely following the financial results of Occidental Petroleum in its upcoming release. The company plans to announce its earnings on May 7, 2025. The company's earnings per share (EPS) are projected to be $0.70, reflecting a 7.69% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.09 billion, indicating a 17.95% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.56 per share and revenue of $28.8 billion. These totals would mark changes of -26.01% and +7.14%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 19.33% lower. Currently, Occidental Petroleum is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 15.84. This valuation marks a premium compared to its industry's average Forward P/E of 14.12.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 42% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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