Occidental Petroleum (OXY) closed the most recent trading day at $54.93, moving -4.14% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.02%. Meanwhile, the Dow experienced a rise of 0.51%, and the technology-dominated Nasdaq saw a decrease of 0.18%.

The stock of oil and gas exploration and production company has risen by 14.62% in the past month, leading the Oils-Energy sector's gain of 7.75% and the S&P 500's gain of 0.77%.

Market participants will be closely following the financial results of Occidental Petroleum in its upcoming release. The company plans to announce its earnings on August 5, 2026. The company is forecasted to report an EPS of $1.95, showcasing a 400% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $7.18 billion, reflecting a 11.16% rise from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.66 per share and a revenue of $24.96 billion, indicating changes of +156.11% and -1.88%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.62% lower. At present, Occidental Petroleum boasts a Zacks Rank of #3 (Hold).

Digging into valuation, Occidental Petroleum currently has a Forward P/E ratio of 10.13. This valuation marks a discount compared to its industry average Forward P/E of 18.89.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 23% 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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Occidental Petroleum Corporation (OXY): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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