Overall market sentiment has been down on Occidental Petroleum Corporation (OXY) stock lately. OXY receives a Bearish rating from InvestorsObserver's Stock Sentiment Indicator.
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.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With OXY Stock Today?
Occidental Petroleum Corporation (OXY) stock is trading at $16.56 as of 3:25 PM on Friday, Jul 10, an increase of $0.28, or 1.72% from the previous closing price of $16.28. The stock has traded between $15.95 and $16.74 so far today. Volume today is below average. So far 13,523,172 shares have traded compared to average volume of 44,538,086 shares.
To see the top 5 stocks in the Oil & Gas E&P industry 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.
