Occidental Petroleum (OXY) ended the recent trading session at $50.51, demonstrating a +1.41% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 1.26%. On the other hand, the Dow registered a gain of 0.8%, and the technology-centric Nasdaq increased by 1.77%.

The the stock of oil and gas exploration and production company has risen by 2.74% in the past month, leading the Oils-Energy sector's loss of 5.1% and the S&P 500's loss of 2.82%.

Market participants will be closely following the financial results of Occidental Petroleum in its upcoming release. The company plans to announce its earnings on February 18, 2025. The company's earnings per share (EPS) are projected to be $0.64, reflecting a 13.51% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $7.13 billion, down 5.36% from the prior-year quarter.

It's also important for investors to be aware of any recent modifications to analyst estimates for Occidental Petroleum. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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, the Zacks Consensus EPS estimate has moved 2.97% lower. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).

From a valuation perspective, Occidental Petroleum is currently exchanging hands at a Forward P/E ratio of 15.41. This signifies a premium in comparison to the average Forward P/E of 13.97 for its industry.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 47, placing it within the top 19% of over 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.