Do Traders Think Occidental Petroleum Corp (OXY) Can Keep Climbing Thursday?

Overall market sentiment has been high on Occidental Petroleum Corp (OXY) stock lately. OXY receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Occidental Petroleum Corp has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on OXY!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. 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 Corp (OXY) stock is trading at $64.91 as of 3:12 PM on Thursday, Mar 28, a gain of $0.73, or 1.14% from the previous closing price of $64.18. The stock has traded between $64.36 and $65.13 so far today. Volume today is light. So far 4,220,589 shares have traded compared to average volume of 8,257,285 shares.

More About Occidental Petroleum Corp

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 2021, the company reported net proved reserves of 3.5 billion barrels of oil equivalent. Net production averaged 1,174 thousand barrels of oil equivalent per day in 2021 at a ratio of 75% oil and natural gas liquids and 25% natural gas. Click Here to get the full Stock Report for Occidental Petroleum Corp stock.