The market has been down on Occidental Petroleum Corporation (OXY) stock recently. OXY gets a Bearish score from InvestorsObserver's Stock Sentiment Indicator.
Occidental Petroleum Corporation has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on OXY!
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With OXY Stock Today?
Occidental Petroleum Corporation (OXY) stock is trading at $17.82 as of 3:34 PM on Thursday, Jul 2, a rise of $0.41, or 2.33% from the previous closing price of $17.41. The stock has traded between $17.61 and $18.63 so far today. Volume today is less active than usual. So far 23,815,231 shares have traded compared to average volume of 45,733,210 shares.
To see InvestorsObserver's Sentiment Score for Occidental Petroleum Corporation click here.
More About Occidental Petroleum Corporation
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2019, the company reported net proven reserves of 3.8 billion barrels of oil equivalent. Net production averaged 996 thousand barrels of oil equivalent per day in 2019 at a ratio of 76% oil and natural gas liquids and 24% natural gas.