Shares of Occidental Petroleum Corporation (OXY) Sees Large Outflow of Money

Occidental Petroleum Corporation (OXY) : Net money flow in Occidental Petroleum Corporation (OXY) was negative ($2.16 million) and the inflow of money on uptick was $1.6 million, whereas, the outflow of money on downticks amounted to $3.76 million on Tuesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.42. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $2.51 million. The money flow in block trades was negative ($2.51). Occidental Petroleum Corporation (OXY) gained $0.18 cent during the day and reached $78.13, a gain of 0.23% over the previous day.


Also, Equity Analysts at the Deutsche Bank downgrades the rating on Occidental Petroleum Corporation (NYSE:OXY). The brokerage firm has issued a Hold rating on the shares. The shares were previously rated Buy. The rating by the firm was issued on August 5, 2016.

Shares of Occidental Petroleum Corporation rose by 1.24% in the last five trading days and 5.78% for the last 4 weeks. Occidental Petroleum Corporation is up 4.2% in the last 3-month period. Year-to-Date the stock performance stands at 17.52%.

Occidental Petroleum Corporation (NYSE:OXY): The stock opened at $78.48 on Tuesday but the bulls could not build on the opening and the stock topped out at $78.48 for the day. The stock traded down to $77.59 during the day, due to lack of any buying support eventually closed down at $77.84 with a loss of -0.14% for the day. The stock had closed at $77.95 on the previous day. The total traded volume was 2,309,598 shares.

In a related news,The director of Occidental Petroleum Corp /De/, Chazen Stephen I sold 9,000 shares at $76.06 on August 16, 2016. The Insider selling transaction had a total value worth of $684,540. 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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