| Why Occidental Petroleum (OXY) Might Surprise This Earnings Season - Tale of the Tape | |
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Investors are always looking for stocks that are poised to beat at earnings season and Occidental Petroleum Corporation (OXY) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report. That is because Occidental Petroleum is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for OXY in this report. In fact, the Most Accurate Estimate for the current quarter is currently at 24 cents per share for OXY, compared to a broader Zacks Consensus Estimate of 21 cents per share. This suggests that analysts have very recently bumped up their estimates for OXY, giving the stock a Zacks Earnings ESP of 14.29% heading into earnings season. Why is this Important? A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10 year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here). Given that OXY has a Zacks Rank #3 (Hold) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. Clearly, recent earnings estimate revisions suggest that good things are ahead for Occidental Petroleum, and that a beat might be in the cards for the upcoming report. Want 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 >> Want 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 PET (OXY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Occidental Petroleum est une société de production minière de pétrole basée aux Etats-Unis D'Amerique. Occidental Petroleum est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 51,8 milliards US$ (48,4 milliards €). La valeur de son action a atteint son plus haut niveau récent le 16 mars 2012 à 99,99 US$, et son plus bas niveau récent le 16 octobre 2020 à 10,00 US$. Occidental Petroleum possède 764 580 032 actions en circulation. |