Investors need to pay close attention to OXY stock based on the movements in the options market lately.
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EOG heads into Q2 earnings with rising estimates, stronger oil prices and projected volume growth, though the model does not signal a beat.
BP heads into Q2 earnings with higher estimates, supported by strong oil prices but tempered by lower seasonal production.
The S&P 500 Index ($SPX ) (SPY ) today is down -0.18%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.85%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.23%. September E-mini S&P futures (ESU26 ) are down -0.25%, and September E-mini Nasdaq futures...
Occidental (OXY) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Oil prices were jumping higher after the U.S. military intercepted Iranian ballistic missiles aimed at American forces in Jordan. Shortly after the attack, the U.S. and Saudi Arabia launched strikes in Iraq against Iran-backed groups that the Islamic Revolutionary Guard Corps previously directed to attack American troops and Saudi energy infrastructure. The escalation in hostilities hit market hopes that the vital Strait of Hormuz waterway would reopen.
Energy businesses quietly power the physical things we depend on, from cars and homes to e-commerce infrastructure. But their prominence also brings high exposure to the ups and downs of economic and energy cycles. Luckily, the tide is turning in their favor as the industry’s 12.6% return over the past six months has topped the S&P 500 by 6.4 percentage points.
The industry is contending with one of its toughest challenges yet under the Republican administration.
In the closing of the recent trading day, Occidental Petroleum (OXY) stood at $54.93, denoting a -4.14% move from the preceding trading day.
The S&P 500 Index ($SPX ) (SPY ) on Monday closed up +0.02%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +0.51%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.32%. September E-mini S&P futures (ESU26 ) rose +0.02%, and September E-mini Nasdaq futures...
The price of crude was dropping sharply alongside oil-related stocks after President Donald Trump paused a major escalation in the military campaign against Iran.
Occidental Petroleum (NYSE:OXY) shares fell 3. 8% in pre-market trading after crude oil prices dropped sharply as easing tensions between the United States and Iran reduced the geopolitical risk premium that has supported energy stocks in recent months.
Investing.com -- Shares in oil and gas producers across the U.S. and Europe fell sharply after the U.S. military halted two weeks of strikes on Iran, with Tehran signaling it would suspend its own attacks as long as the pause holds, easing fears of a broader Middle East escalation and dragging crude prices lower.
One company produces oil; the other moves it. Which is the better choice as oil prices start to rise again?
TTE's Q2 earnings and sales miss estimates as lower production offset higher revenues, stronger cash flow and refining gains.
As oil prices rise again, so will Oxy's stock.
The S&P 500 Index ($SPX ) (SPY ) today is down -0.80%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.66%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.20%. September E-mini S&P futures (ESU26 ) are down -0.77%, and September E-mini Nasdaq futures...
Wall Street closed lower on Wednesday, dragged down by communications and discretionary stocks.
Retail traders are flooding into Occidental Petroleum with near-unanimous bullish conviction while Wall Street analysts quietly trim their targets and a top insider unloads tens of thousands of shares. Someone has the trade badly wrong.
The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed down -0.14%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.01%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.54%. September E-mini S&P futures (ESU26 ) fell -0.07%, and September E-mini Nasdaq futures...
Brent crude futures expiring in September rose to $94.25 per barrel at the time of writing, while WTI crude futures expiring in September were at $87.54 per barrel.
In the closing of the recent trading day, Occidental Petroleum (OXY) stood at $56.5, denoting a +2.37% move from the preceding trading day.
Zacks.com users have recently been watching Occidental (OXY) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Occidental Petroleum approaches Q2 earnings with high expectations, leaving investors eager to see what unfolds next.
Occidental Petroleum should remain prudent and not be tempted to boost production simply because oil prices are elevated.