Investors Purchase Large Volume of Call Options on Occidental Petroleum (OXY)
Shares of Occidental Petroleum (NYSE:OXY) saw unusually large options trading on Friday. Traders acquired 27,519 call options on the company, Analyst Ratings Network reports. This is an increase of 284% compared to the average daily volume of 7,162 call options.
OXY has been the subject of a number of recent research reports. Analysts at Simmons downgraded shares of Occidental Petroleum from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 13th. Separately, analysts at Morgan Stanley upgraded shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 4th. They now have a $120.00 price target on the stock, up previously from $110.00. Finally, analysts at Barclays cut their price target on shares of Occidental Petroleum from $120.00 to $117.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $111.69.
Occidental Petroleum (NYSE:OXY) traded down 0.27% during mid-day trading on Friday, hitting $103.73. 2,485,814 shares of the company’s stock traded hands. Occidental Petroleum has a 52-week low of $85.90 and a 52-week high of $105.64. The stock’s 50-day moving average is $100.6 and its 200-day moving average is $98.19. The company has a market cap of $80.871 billion and a price-to-earnings ratio of 13.71.
Occidental Petroleum (NYSE:OXY) last released its earnings data on Thursday, July 31st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts expect that Occidental Petroleum will post $7.28 EPS for the current fiscal year.
Occidental Petroleum Corporation (NYSE:OXY) conducts its operations through various subsidiaries and affiliates.
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