OXY(US:OXY) ZACKS·2024-11-12 23:36Company Performance - Occidental Petroleum reported quarterly earnings of $1 per share, exceeding the Zacks Consensus Estimate of $0.80 per share, but down from $1.18 per share a year ago, representing an earnings surprise of 25% [1] - The company posted revenues of $7.15 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.37%, and down from $7.4 billion year-over-year [2] - Over the last four quarters, Occidental has surpassed consensus EPS estimates three times, but has topped consensus revenue estimates only once [2] Stock Outlook - Occidental shares have declined approximately 14.9% since the beginning of the year, while the S&P 500 has gained 25.8% [3] - The current consensus EPS estimate for the upcoming quarter is $0.80 on revenues of $7.38 billion, and for the current fiscal year, it is $3.29 on revenues of $27.65 billion [7] Industry Context - The Oil and Gas - Integrated - United States industry is currently ranked in the bottom 13% of over 250 Zacks industries, indicating a challenging environment for companies in this sector [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]