Occidental Petroleum Corporation (OXY) : Traders are bullish on Occidental Petroleum Corporation (OXY) as it has outperformed the S&P 500 by a wide margin of 1.15% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.83%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.79% in the last 1 week, and is up 1.54% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Occidental Petroleum Corporation is up 3.11% in the last 3-month period. Year-to-Date the stock performance stands at 15.56%. The stock has recorded a 20-day Moving Average of 2.63% and the 50-Day Moving Average is 1.59%.
Occidental Petroleum Corporation (NYSE:OXY): The stock opened at $76.91 on Friday but the bulls could not build on the opening and the stock topped out at $77.15 for the day. The stock traded down to $76.34 during the day, due to lack of any buying support eventually closed down at $76.54 with a loss of -1.21% for the day. The stock had closed at $77.48 on the previous day. The total traded volume was 2,992,238 shares.
Also, Major Brokerage house, Deutsche Bank downgrades its ratings on Occidental Petroleum Corporation (NYSE:OXY). According to the latest information available, the shares are now rated Hold by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on August 5, 2016.
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.