In the latest trading session, Occidental Petroleum (OXY) closed at $55.38, marking a -4.62% move from the previous day. This change lagged the S&P 500's 1.18% gain on the day. On the other hand, the Dow registered a gain of 0.66%, and the technology-centric Nasdaq increased by 1.96%.
The oil and gas exploration and production company's shares have seen an increase of 1.41% over the last month, not keeping up with the Oils-Energy sector's gain of 2.34% and the S&P 500's gain of 3.93%.
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 May 5, 2026. The company is forecasted to report an EPS of $0.65, showcasing a 25.29% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.51 billion, indicating a 19.48% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.1 per share and revenue of $23.68 billion, which would represent changes of +40.27% and -6.91%, respectively, from the prior year.
Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 101.37% rise in the Zacks Consensus EPS estimate. Right now, Occidental Petroleum possesses a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Occidental Petroleum is presently being traded at a Forward P/E ratio of 18.74. This expresses a discount compared to the average Forward P/E of 19.26 of its industry.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant 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 Report
This article originally published on Zacks Investment Research (zacks.com).