Occidental Petroleum Corporation’s Stock Is Buy After Today’s Bullish Options Activity

 Occidental Petroleum Corporation's Stock Is Buy After Today's Bullish Options Activity

In today’s session Occidental Petroleum Corporation (OXY) registered an unusually high (815) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious OXY increase. With 815 contracts traded and 17324 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: OXY161216C00070000 closed last at: $0.48 or 33.3% down. About 1.13M shares traded hands. Occidental Petroleum Corporation (NYSE:OXY) has declined 10.35% since April 12, 2016 and is downtrending. It has underperformed by 15.33% 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. $95 is the highest target while $54 is the lowest. The $77.27 average target is 19.74% above today’s ($64.53) stock price. Occidental Petroleum Corporation has been the topic of 36 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The rating was maintained by Barclays Capital on Thursday, July 14 with “Underweight”. RBC Capital Markets maintained it with “Sector Perform” rating and $77 target price in Friday, July 31 report. The company was downgraded on Monday, September 12 by JP Morgan. The firm earned “Hold” rating on Friday, November 6 by Tudor Pickering. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Monday, June 13 report. The rating was initiated by BMO Capital Markets on Tuesday, September 29 with “Outperform”. The stock of Occidental Petroleum Corporation (NYSE:OXY) earned “Outperform” rating by Oppenheimer on Wednesday, September 2. The company was initiated on Tuesday, December 15 by Credit Agricole. RBC Capital Markets maintained Occidental Petroleum Corporation (NYSE:OXY) rating on Thursday, October 29. RBC Capital Markets has “Sector Perform” rating and $73 price target. On Thursday, December 17 the stock rating was downgraded by Iberia Capital Partners to “Sector Perform”.

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 dived, 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.
Cohen Cap Mngmt Inc owns 12,024 shares or 0.26% of their US portfolio. Signaturefd Limited Liability Corporation has 3,432 shares for 0.04% of their US portfolio. Hudson Bay Cap Mgmt Ltd Partnership holds 0.46% or 195,800 shares in its portfolio. Vantage Inv Lc accumulated 862 shares or 0.03% of the stock. Tctc Ltd Limited Liability Company holds 1.53% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY) for 298,597 shares. First Interstate Fincl Bank holds 15,433 shares or 0.24% of its portfolio. Utd Ser Automobile Association has 0.65% invested in the company for 2.40 million shares. Diam accumulated 0.16% or 145,623 shares. Quantum Management last reported 9,971 shares in the company. Northcoast Asset Mngmt Limited Liability Corp last reported 332,667 shares in the company. California Pub Employees Retirement has invested 0.28% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY). Huntington Natl Bank holds 179,551 shares or 0.32% of its portfolio. Bingham Osborn & Scarborough Limited Liability Company, a California-based fund reported 5,550 shares. General Electr Co last reported 0.85% of its portfolio in the stock. The New York-based Sg Americas has invested 0.17% in Occidental Petroleum Corporation (NYSE:OXY).

Insider Transactions: Since May 17, 2016, the stock had 0 insider buys, and 24 insider sales for $13.29 million net activity. Another trade for 9,000 shares valued at $657,405 was made by CHAZEN STEPHEN I on Tuesday, September 13.

Occidental Petroleum Corporation is an gas and oil exploration and production company. The company has a market cap of $48.74 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.

More news for Occidental Petroleum Corporation (NYSE:OXY) were recently published by: Wsj.com, which released: “Occidental Petroleum Posts Quarterly Loss” on November 01, 2016. Bizjournals.com‘s article titled: “This oil and gas company just signed a long-term, 120000 square-foot lease …” and published on November 04, 2016 is yet another important article.

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