Occidental Petroleum Corporation’s Trend Up, Especially After This Options Activity

 Occidental Petroleum Corporation's Trend Up, Especially After This Options Activity

In today’s session Occidental Petroleum Corporation (OXY) registered an unusually high (668) 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 668 contracts traded and 10644 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: OXY161216C00067500 closed last at: $2.74 or 0.7% up. The stock increased 0.81% or $0.56 on November 23, hitting $69.85. About 3.96 million shares traded hands. Occidental Petroleum Corporation (NYSE:OXY) has declined 7.91% since April 22, 2016 and is downtrending. It has underperformed by 13.32% the S&P500.

Analysts await Occidental Petroleum Corporation (NYSE:OXY) to report earnings on February, 2. They expect $0.06 earnings per share, up 135.29% or $0.23 from last year’s $-0.17 per share. OXY’s profit will be $45.89M for 291.04 P/E if the $0.06 EPS becomes a reality. After $-0.15 actual earnings per share reported by Occidental Petroleum Corporation for the previous quarter, Wall Street now forecasts -140.00% EPS growth.

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. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, July 31 report. RBC Capital Markets maintained it with “Sector Perform” rating and $73 target price in Thursday, October 29 report. JP Morgan downgraded it to “Neutral” rating and $80 target price in Monday, May 9 report. The stock of Occidental Petroleum Corporation (NYSE:OXY) has “Buy” rating given on Tuesday, December 15 by Credit Agricole. The stock of Occidental Petroleum Corporation (NYSE:OXY) has “Outperform” rating given on Tuesday, September 29 by BMO Capital Markets. The rating was downgraded by Jefferies on Tuesday, January 12 to “Hold”. Citigroup maintained the shares of OXY in a report on Monday, September 14 with “Neutral” rating. The firm earned “Outperform” rating on Wednesday, September 2 by Oppenheimer. The stock has “Sector Perform” rating given by Iberia Capital Partners on Thursday, December 17. The company was downgraded on Friday, November 6 by Tudor Pickering.

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 1.04 in 2016 Q2. Its down 0.08, from 1.12 in 2016Q1. The ratio worsened, 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.
Cleararc Inc holds 0.27% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY) for 18,546 shares. Charter Tru last reported 12,075 shares in the company. Hm Payson Com holds 0.8% or 210,961 shares in its portfolio. Hgk Asset Mgmt Inc accumulated 1.69% or 149,755 shares. Raymond James Associates accumulated 0.42% or 1.77 million shares. Sandy Spring Bankshares has 0.01% invested in the company for 1,233 shares. King Luther Capital accumulated 0.37% or 500,805 shares. Fmr Lc has invested 0.02% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY). Ameritas Investment Prtnrs Incorporated, a Nebraska-based fund reported 46,401 shares. Raymond James Tru Na has 89,844 shares for 0.57% of their US portfolio. Miller Howard Invs reported 134,337 shares or 0.18% of all its holdings. Ibm Retirement Fund holds 100,100 shares or 0.28% of its portfolio. New Mexico Educational Retirement Board has 0.3% invested in the company for 89,013 shares. Richard Bernstein Advsr Ltd owns 60,643 shares or 0.44% of their US portfolio. Jacobs Levy Equity Incorporated has invested 0.02% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY).

Insider Transactions: Since May 31, 2016, the stock had 1 insider purchase, and 25 insider sales for $12.68 million net activity. Another trade for 5,000 shares valued at $381,200 was sold by CHAZEN STEPHEN I. $648,900 worth of shares were bought by KLESSE WILLIAM R on Monday, November 14.

Occidental Petroleum Corporation is an gas and oil exploration and production company. The company has a market cap of $53.42 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 Wsj.com which published an article titled: “Occidental Petroleum Acquires Permian Basin Assets for $2 Billion” on October 31, 2016.

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