In the latest trading session, Occidental Petroleum (OXY) closed at $57.35, marking a -0.23% move from the previous day. This change lagged the S&P 500's 0.21% loss on the day. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.16%.Heading into today, shares of the oil and gas exploration and production company had lost 12.99% over the past month, lagging the Oils-Energy sector's loss of 3.04% and the S&P 500's gain of 2.07% in that time.Investors will be hoping for strength from OXY as it approaches its next earnings release, which is expected to be May 6, 2019. In that report, analysts expect OXY to post earnings of $0.72 per share. This would mark a year-over-year decline of 21.74%. Our most recent consensus estimate is calling for quarterly revenue of $3.96 billion, up 3.45% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.64 per share and revenue of $16.95 billion. These totals would mark changes of -27.35% and -10.25%, respectively, from last year.Any recent changes to analyst estimates for OXY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.31% higher within the past month. OXY currently has a Zacks Rank of #3 (Hold).Digging into valuation, OXY currently has a Forward P/E ratio of 15.81. For comparison, its industry has an average Forward P/E of 14.99, which means OXY is trading at a premium to the group.Investors should also note that OXY has a PEG ratio of 1.09 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 1.58 as of yesterday's close.The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 38, putting it in the top 15% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.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 Petroleum Corporation (OXY): Free Stock Analysis Report To read this article on Zacks.com click here.