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

What is Occidental Petroleum Corporation?

Occidental Petroleum (OXY) is a major oil and gas exploration and production company listed on the NYSE. Today, the stock experienced a strong bullish movement.

Why is Occidental Petroleum Corporation going up?

OXY stock is up 5.0% on Dec 20, 2024 18:01

• An increase in stake by a major investment firm through the purchase of nearly 9 million shares at an average price of $45.99 likely boosted investor confidence and contributed to the bullish movement.
• The positive sentiment around the stock was reinforced by a bullish approach from deep-pocketed investors evident in public options records.
• Occidental Petroleum outperformed despite broader market fluctuations, showcasing strong investor interest and potential positive outlook for the company.

OXY Price Chart

OXY Technical Analysis

OXY News

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

Occidental Petroleum OXY stock is trading higher on Friday after Berkshire Hathaway Inc. BRK increased its stake in the company. The Details: According to a Form 4 filing with the Securities and Exchange Commission, Berkshire purchased 8,896,890 shares in Occidental at an average price of $45.99.

https://www.benzinga.com/24/12/42622045/whats-going-on-with-occidental-petroleum-shares-friday

Here's Why Occidental Petroleum ( OXY ) Fell More Than Broader Market

Occidental Petroleum (OXY) closed at $45.36 in the latest trading session, marking a -1.43% move from the prior day.

https://www.zacks.com/stock/news/2386012/heres-why-occidental-petroleum-oxy-fell-more-than-broader-market

Check Out What Whales Are Doing With OXY - Occidental Petroleum ( NYSE:OXY )

Deep-pocketed investors have adopted a bullish approach towards Occidental Petroleum OXY, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today.

https://www.benzinga.com/insights/options/24/12/42534764/check-out-what-whales-are-doing-with-oxy

Company News for Dec 16, 2024

Companies in The News Are: AVGO, RH, OXY, LW, POST ...

https://www.zacks.com/stock/news/2383872/company-news-for-dec-16-2024

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Occidental Petroleum Corporation Price History

13.10.2024 - OXY Stock was up 1.0%

• OXY's third-quarter earnings surpassed expectations, driven by strong sales volume in the face of lower commodity prices.
• There has been a notable increase in bullish options trading, indicating a growing confidence among investors in Occidental Petroleum's future performance.
• Investors are eagerly anticipating OXY's Q3 earnings report to evaluate the company's ability to validate Warren Buffett's investment and address recent stock declines.
• Despite a decrease in earnings per share from the previous year, OXY's positive earnings outlook is drawing interest from investors and contributing to the bullish market trend.

13.10.2024 - OXY Stock was down 4.0%

• Occidental Petroleum (OXY) experienced a strong bearish movement despite financial giants showing bullish tendencies in options trading.
• The anticipation of Occidental Petroleum's Q3 earnings release may have contributed to the bearish sentiment as investors question the company's ability to justify Warren Buffett's confidence.
• Analysts' expectations of lower quarterly earnings compared to the previous year could have further dampened investor sentiment towards OXY.
• The overall market sentiment, as indicated by U.S. stock futures trading lower, may have also influenced the bearish movement of Occidental Petroleum's stock today.

14.10.2024 - OXY Stock was up 5.0%

• OXY experienced a strong bullish movement likely due to:
• Better-than-expected Q3 earnings, despite lagging revenues, showcasing the company's ability to perform well in challenging market conditions.
• The bullish sentiment from financial giants and options traders, with a majority showing confidence in the company's future prospects.
• Anticipation surrounding OXY's Q3 earnings release, with investors eager to see if the company can justify Warren Buffett's support and potentially turn around its recent stock slump.

20.11.2024 - OXY Stock was up 5.0%

• An increase in stake by a major investment firm through the purchase of nearly 9 million shares at an average price of $45.99 likely boosted investor confidence and contributed to the bullish movement.
• The positive sentiment around the stock was reinforced by a bullish approach from deep-pocketed investors evident in public options records.
• Occidental Petroleum outperformed despite broader market fluctuations, showcasing strong investor interest and potential positive outlook for the company.

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.