Occidental Petroleum (OXY) closed at $52.30 in the latest trading session, marking a -2.41% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.81%. Meanwhile, the Dow experienced a rise of 0.27%, and the technology-dominated Nasdaq saw an increase of 1.3%.
Coming into today, shares of the oil and gas exploration and production company had lost 6.15% in the past month. In that same time, the Oils-Energy sector lost 3.61%, while the S&P 500 gained 1.13%.
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 is expected to report EPS of $1.94, up 397.44% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $7.22 billion, indicating a 11.88% increase compared to the same quarter of the previous year.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $5.93 per share and revenue of $25.57 billion. These results would represent year-over-year changes of +168.33% and +0.5%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Occidental Petroleum. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has moved 2.48% higher. Occidental Petroleum presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 9.04. This signifies a discount in comparison to the average Forward P/E of 19.87 for 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 174, finds itself in the bottom 30% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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).