In the latest trading session, Occidental Petroleum (OXY) closed at $53.77, marking a -1.47% move from the previous day. This change lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 0.62%.
Shares of the oil and gas exploration and production company have appreciated by 1.68% over the course of the past month, outperforming the Oils-Energy sector's loss of 1.03%, and the S&P 500's gain of 1.61%.
Investors will be eagerly watching for the performance of Occidental Petroleum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2026. The company's earnings per share (EPS) are projected to be $1.94, reflecting a 397.44% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.22 billion, up 11.88% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.88 per share and a revenue of $25.57 billion, indicating changes of +166.06% and +0.5%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.53% rise in the Zacks Consensus EPS estimate. Currently, Occidental Petroleum is carrying a Zacks Rank of #2 (Buy).
Looking at valuation, Occidental Petroleum is presently trading at a Forward P/E ratio of 9.29. This valuation marks a discount compared to its industry average Forward P/E of 19.57.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Occidental Petroleum Corporation (OXY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).