Occidental Petroleum Corporation ($OXY) Stock Forecast: Up 5.0% Today

What is Occidental Petroleum Corporation?

Occidental Petroleum Corporation (NYSE: OXY) is an oil and gas exploration and production company with operations worldwide. Today, the stock experienced a strong bullish movement.

Why is Occidental Petroleum Corporation going up?

OXY stock is up 5.0% on Aug 8, 2024 17:59

• Occidental Petroleum Corporation (OXY) stock surged after reporting its fiscal year second-quarter earnings, with adjusted EPS of $1.03 beating analysts' estimates.
• The company's strong performance was primarily driven by better-than-expected earnings, despite revenues lagging slightly behind estimates.
• The positive earnings report and the company's strong production volume from domestic assets likely contributed to the bullish movement in OXY stock today.
• Investors and retail traders showed interest in OXY stock amidst a market where major U.S. indices closed lower, indicating confidence in Occidental Petroleum's financial performance and operational outlook.

OXY Price Chart

OXY News

What's Going On With Occidental Petroleum Corporation Shares Thursday? - Occidental Petroleum ( NYSE:OXY )

Occidental Petroleum Corporation OXY stock is trading higher on Thursday. The company reported 2024 fiscal year second quarter earnings after the market closed on Wednesday. The Details: The company reported adjusted EPS of $1.03 beating analysts estimate of 77 cents and sales of $6.82 billion ...

https://www.benzinga.com/news/24/08/40261276/whats-going-on-with-occidental-petroleum-corporation-shares-thursday

Occidental ( OXY ) Q2 Earnings Surpass Estimates, Revenues Lag

Occidental Petroleum's (OXY) second-quarter earnings are better than estimated. Strong production volume from domestic assets continues to drive the performance of the company.

https://www.zacks.com/stock/news/2319366/occidental-oxy-q2-earnings-surpass-estimates-revenues-lag

Robinhood, Occidental Petroleum, Virgin Galactic, Tesla, Disney: Why These 5 Stocks Are On Investors'' Radars Today

On Wednesday, major U.S. indices closed lower, with the Dow Jones Industrial Average decreasing by 0.6% to 38,763.45, the S&P 500 falling 0.8% to 5,199.50, and the Nasdaq slid 1.05% to 16,195.81. These are the top stocks that gained the attention of retail traders and investors throughout the day: Robinhood Markets (NASDAQ: HOOD ) Robinhood’s stock closed down 0.52% at $17.12, with an intraday high of $17.64 and a low of $16.86. The 52-week range stands between $24.88 and $7.91. The brokerage platform reported a 40% year-over-year increase in second-quarter revenue , totaling $682 million, surpassing the Street consensus estimate of $643.3 million. Occidental Petroleum (NYSE: OXY ) Occidental Petroleum’s stock closed down 0.04% at $56.11, with an intraday high of $57.2 and a low … Full story available on Benzinga.com

https://www.benzinga.com/markets/equities/24/08/40241485/robinhood-occidental-petroleum-virgin-galactic-tesla-disney-why-these-5-stocks-are-on-investors-

OXY Earnings: Occidental Rallies amid Big EPS Beat

Shares of Occidental Petroleum ($OXY) rallied in after-hours trading after the oil company reported earnings for its second quarter of Fiscal Year …

https://www.tipranks.com/news/oxy-earnings-occidental-rallies-amid-big-eps-beat

Occidental Petroleum Corp. Bottom Line Climbs In Q2

LOS ANGELES (dpa-AFX) - Occidental Petroleum Corp. (OXY) revealed a profit for its second quarter that increased from last yearThe company''s earnings came in at $992 million, or $1.03 per share. T…

https://www.finanznachrichten.de/nachrichten-2024-08/62939969-occidental-petroleum-corp-bottom-line-climbs-in-q2-020.htm

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Occidental Petroleum Corporation Price History

23.09.2023 - OXY Stock was down 4.0%

• Berkshire Hathaway increasing stakes in OXY might have initially indicated positive sentiment, but it did not prevent the bearish movement.
• The price target increase by Susquehanna was not enough to counteract the negative market sentiment.
• The broader market slump also contributed to the dip in OXY shares.
• Despite Warren Buffett's investment strategy and Berkshire Hathaway's involvement, OXY was unable to withstand the bearish market trend.

15.01.2024 - OXY Stock was up 3.4%

• OXY had a strong bullish movement today, likely driven by:
• Warren Buffett's increased investment in OXY, which could have boosted investor confidence and signaled positive prospects for the company.
• Occidental Petroleum beating profit estimates in the fourth quarter, indicating strong U.S. production and financial performance, which may have attracted investors.
• The company's decision to hike its dividend, signaling OXY's commitment to rewarding shareholders.
• Despite reports of Buffett reducing positions in other companies, the positive news surrounding OXY seemed to outweigh any potential negative impact.

14.01.2024 - OXY Stock was down 0.5%

• OXY's downward movement could be related to ongoing consolidation within the energy sector, as major companies struggle with declining production and lower profits.
• The uncertain oil price outlook, influenced by factors like China's economic slowdown and escalating Middle East tensions, may have contributed to the bearish sentiment surrounding OXY.
• The impending release of OXY's fourth-quarter earnings report, scheduled after market hours, could also be a factor affecting the downward movement.
• Despite the current bearish market sentiment, there are discussions about the potential for investing in energy stocks, including OXY, as the economy shows signs of recovery and increased resource consumption.

24.06.2023 - OXY Stock was up 2.5%

• Unusual options activity suggests a bullish stance on OXY, indicating positive sentiment towards the stock.
• Morgan Stanley lowered OXY's target price, but the potential downside is minimal, indicating that the overall sentiment remains positive.
• The article highlighting undervalued oil stocks to buy now may have contributed to the bullish movement in OXY, as investors seek buying opportunities in the industry.
• OXY outperformed the stock market gains, further indicating positive market sentiment towards the stock.

08.07.2024 - OXY Stock was up 5.0%

• Occidental Petroleum Corporation (OXY) stock surged after reporting its fiscal year second-quarter earnings, with adjusted EPS of $1.03 beating analysts' estimates.
• The company's strong performance was primarily driven by better-than-expected earnings, despite revenues lagging slightly behind estimates.
• The positive earnings report and the company's strong production volume from domestic assets likely contributed to the bullish movement in OXY stock today.
• Investors and retail traders showed interest in OXY stock amidst a market where major U.S. indices closed lower, indicating confidence in Occidental Petroleum's financial performance and operational outlook.