Occidental Petroleum (OXY) Stock Moves -0.6%: What You Should Know

In the latest trading session, Occidental Petroleum (OXY) closed at $46.37, reflecting a decrease of -0.6% from the previous trading day's close. This performance managed to outshine the broader S&P 500 index, which recorded a loss of 0.76%. Meanwhile, the Dow Jones Industrial Average fell by 0.28%, while the tech-heavy Nasdaq saw a more significant decline of 1.2%.

Over the past month, shares of Occidental Petroleum have declined by 7.64%, notably lagging behind the Oils-Energy sector, which gained 4.11%, as well as the S&P 500's increase of 2.71% during the same period.

Investors are keenly awaiting Occidental Petroleum's upcoming earnings report, scheduled for release on February 18, 2025. Analysts forecast the company to report earnings of $0.67 per share, signaling a decline of 9.46% compared to the same quarter last year. Additionally, the consensus estimate for the company's revenue is expected to be $7.13 billion, a decline of 5.25% from the same quarter a year ago.

It's essential for investors to keep an eye on any recent changes to analyst forecasts for Occidental Petroleum, as these alterations can provide insights into the company’s near-term business outlook. Positive revisions often indicate a favorable assessment of the company’s potential.

Historical data suggest a strong correlation between these adjustments in earnings estimates and subsequent stock performance. To leverage this relationship, the Zacks Rank model offers a systematic rating of stocks based on estimated changes. The Zacks Rank ranges from #1 (Strong Buy) to #5 (Strong Sell), with proven performance showing that #1 ranked stocks have returned an average of +25% annually since 1988. Currently, Occidental Petroleum holds a Zacks Rank of #3 (Hold).

When evaluating valuation metrics, Occidental Petroleum is noted to have a Forward P/E ratio of 13.59, which positions it at a discount compared to its industry's Forward P/E of 15.41.

The Oil and Gas - Integrated - United States sector belongs to the broader Oils-Energy sector. This particular industry has a Zacks Industry Rank of 140, placing it within the bottom 45% of over 250 industries. The Zacks Industry Rank assesses the strength of individual industry groups by averaging the Zacks Ranks of stocks within those groups.

In conclusion, investors can stay informed on stock movements and relevant metrics for Occidental Petroleum and other companies by utilizing various resources that provide timely updates.

Occidental, Stock, Earnings