Estimates for Occidental Petroleum Corporation OXYhave been revised upward over the past 30 days, reflecting analyst’s confidence in the stock post solid first-quarter 2018 results. The Zacks Consensus Estimate for 2018 and 2019 earnings has moved up 26.8% and 39.8% to $3.79 and $4.04, respectively.
Occidental Petroleum is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Its wholly owned subsidiary, OxyChem, is a major North American chemical manufacturer.
The stock, sporting a Zacks Rank #1 (Strong Buy), has gained 38.9% in a year, outperforming the industry’s growth of 26.2%.