Aggressive’ Bearish Options Activity Seen in Occidental Petroleum Corporation

 Aggressive' Bearish Options Activity Seen in Occidental Petroleum Corporation

In today’s session Occidental Petroleum Corporation (OXY) recorded an unusually high (326) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious OXY decrease. With 326 contracts traded and 15034 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: OXY161118P00072500 closed last at: $1.25 or 14.7% up. About 2.12 million shares traded hands. Occidental Petroleum Corporation (NYSE:OXY) has risen 8.39% since March 29, 2016 and is uptrending. It has outperformed by 4.92% the S&P500.

Occidental Petroleum Corporation (NYSE:OXY) Ratings Coverage

Out of 16 analysts covering Occidental Petroleum Corporation (NYSE:OXY), 6 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 38% are positive. Occidental Petroleum Corporation has been the topic of 36 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, October 29. Deutsche Bank downgraded the shares of OXY in a report on Friday, August 5 to “Hold” rating. Iberia Capital Partners downgraded Occidental Petroleum Corporation (NYSE:OXY) on Thursday, December 17 to “Sector Perform” rating. As per Monday, September 12, the company rating was downgraded by JP Morgan. The firm has “Neutral” rating by Citigroup given on Monday, September 14. The company was maintained on Wednesday, September 2 by Oppenheimer. Barclays Capital maintained the shares of OXY in a report on Thursday, July 14 with “Underweight” rating. On Thursday, August 4 the stock rating was maintained by UBS with “Neutral”. The rating was downgraded by JP Morgan on Monday, May 9 to “Neutral”. The firm has “Buy” rating given on Tuesday, December 15 by Credit Agricole.

According to Zacks Investment Research, “Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental conducts its principal operations through its oil and gas and chemical subsidiaries.”

Insitutional Activity: The institutional sentiment decreased to 1.12 in 2016 Q2. Its down 0.06, from 1.18 in 2016Q1. The ratio fall, as 69 funds sold all Occidental Petroleum Corporation shares owned while 340 reduced positions. 79 funds bought stakes while 379 increased positions. They now own 608.99 million shares or 2.93% more from 591.64 million shares in 2016Q1.
Norinchukin National Bank & Trust The has invested 0.14% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY). Ubs Asset Mgmt Americas Inc has 0.24% invested in the company for 2.87M shares. Umb Financial Bank N A Mo last reported 0.27% of its portfolio in the stock. Peak6 Invs Lp accumulated 0.01% or 8,883 shares. The Delaware-based Blackrock Advisors Lc has invested 0.58% in Occidental Petroleum Corporation (NYSE:OXY). The California-based National Planning has invested 0.04% in Occidental Petroleum Corporation (NYSE:OXY). Amica Pension Fund Board Of Trustees accumulated 0.36% or 35,999 shares. Teacher Retirement Sys Of Texas last reported 599,274 shares in the company. Sumitomo Mitsui Trust Hldgs Incorporated last reported 0.31% of its portfolio in the stock. The California-based Private Asset Management Inc has invested 0.85% in Occidental Petroleum Corporation (NYSE:OXY). The Connecticut-based Bradley Foster Sargent Inc Ct has invested 0.08% in Occidental Petroleum Corporation (NYSE:OXY). Moreover, Natl Bank Of America De has 0.41% invested in Occidental Petroleum Corporation (NYSE:OXY) for 23.23M shares. Tudor Corp Et Al accumulated 3,822 shares or 0.01% of the stock. Blackrock Invest Management Lc holds 0.43% or 4.53M shares in its portfolio. D Scott Neal accumulated 146 shares or 0.01% of the stock.

Insider Transactions: Since May 3, 2016, the stock had 0 buys, and 24 insider sales for $12.84 million net activity. CHAZEN STEPHEN I sold $378,250 worth of stock or 5,000 shares.

Occidental Petroleum Corporation is an gas and oil exploration and production company. The company has a market cap of $55.61 billion. The Firm operates through three divisions: gas and oil, chemical , and midstream and marketing. It currently has negative earnings. The gas and oil segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

OXY Company Profile

Occidental Petroleum Corporation (Occidental), incorporated on April 9, 1986, is an gas and oil exploration and production firm with activities in the United States, the Middle East region and Latin America. The Firm operates through three divisions: gas and oil, chemical (OxyChem), and midstream and marketing. The gas and oil segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas. The chemical (OxyChem) segment makes and markets basic chemicals and vinyls. The midstream, marketing segment (midstream and marketing) gathers, processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide (CO2) and power. Additionally, the midstream and marketing segment invests in entities that conduct similar activities. It also trades around its assets, including transportation and storage capacity, and trades oil, NGLs, gas and other commodities. Occidental’s domestic upstream gas and oil activities are located in New Mexico and Texas. International activities are located in Bolivia, Colombia, Oman, Qatar and the United Arab Emirates.

Another recent and important Occidental Petroleum Corporation (NYSE:OXY) news was published by Zacks.com which published an article titled: “Occidental Petroleum (OXY) Q3 Earnings: What’s in Store?” on October 26, 2016.

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