Large Inflow of Money Detected in Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) : Occidental Petroleum Corporation (OXY) had a healthy money flow of $8.49 million into the stock during the Wednesdays trading session. The value of bullish trades on upticks was $32.37 million, whereas, investors only sold shares worth $23.88 million on downticks. The stock closed the day with an up-down ratio of 1.36.The money flow in the block trades to the tune of $5.73 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $8.53 million worth of transactions were on upticks. A paltry $2.8 million worth of block trade transactions on downticks shows that the investors are reluctant to sell the stock down. The total up-down ratio of the upticks vs the downticks in block trades was 3.04. Occidental Petroleum Corporation (OXY) stock slid $0.02 intraday and traded at 76.35, a change of -0.03% over previous days close. However, for the week, the company shares are -1.25% compared to previous weeks close.


Also, Major Brokerage house, Barclays maintains its ratings on Occidental Petroleum Corporation (NYSE:OXY). In the latest research report, Barclays raises the target price from $60 per share to $61 per share. According to the latest information available, the shares are now rated Underweight by the analysts at the agency. The rating by the firm was issued on July 14, 2016.

Occidental Petroleum Corporation (NYSE:OXY): The stock opened at $76.14 on Wednesday but the bulls could not build on the opening and the stock topped out at $76.87 for the day. The stock traded down to $75.87 during the day, due to lack of any buying support eventually closed down at $76.35 with a loss of -0.03% for the day. The stock had closed at $76.37 on the previous day. The total traded volume was 1,825,822 shares.

The stock has recorded a 20-day Moving Average of 0.36% and the 50-Day Moving Average is 1.17%. In a related news,The director of Occidental Petroleum Corp /De/, Chazen Stephen I sold 5,000 shares at $77.21 on July 12, 2016. The Insider selling transaction had a total value worth of $386,050. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Occidental Petroleum Corporation (Occidental) is engaged in the oil and gas exploration and production. The Company, through its subsidiaries and affliates, operates in the United States, Middle East/North Africa and Latin America. Occidental operates through three segments. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGL) and natural gas. The chemical (OxyChem) segment manufactures and markets basic chemicals and vinyls. The midstream, marketing and other segment (midstream and marketing) gathers, processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide (CO2) and power. It also trades around its assets, including transportation and storage capacity, and trades oil, NGLs, gas and other commodities.

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