OXY’s missed earnings signaling challenges in the US oil and gas industry?

However, this fell slightly short of the Zacks Consensus Estimate of $0.70 per share and is a marked decrease from the previous year's earnings of $3.16 per share, after adjusting for non-recurring items.

The earnings surprise of -2.86% was a disappointing outcome, especially given the previous quarter's earnings, which underperformed expectations by -16.15% ($1.09 actual vs $1.30 expected). Over the past year, the company has consistently failed to exceed consensus EPS estimates.

Since the start of the year, Occidental's shares have slightly decreased by about 0.6%, contrasting with the S&P 500's gain of 19.2%. The future of the stock is uncertain, with the earnings outlook and management commentary being crucial for its short-term price movement.

Experts are predicting that Occidental Petroleum will make a profit of $1 per share in the next three months, and they're expecting to see about $7.27 billion in sales during that time.

But we need to look at the bigger picture too. How is the U.S. Oil and Gas industry faring overall? At the moment, it's not doing great — it's in the bottom 14% when we compare it with more than 250 other industries that financial experts at Zacks keep an eye on. This means the overall state of the industry might pull down the performance of the company.