OXY did beat comfortable, no question about. However, during the last 2 and 1/2 months, the pps for OXY has risen from $85 to $96, a gain of about 13%. This significant rise in the pps was due to investors buying shares because Mr. Chazen announced that OXY would unveil plans, in October, that would substantially increase shareholder value.
Chazen/OXY did announce a couple of meaningless and insignificant possible sales of assets in October. But they didn't announce anything that would increase shareholder value and shareholders are disappointed in the lack of forthcoming 'reorganization' news from Chazen/OXY. Expectations weren't met, despite the good quarterly report. It was not any market manipulators or short sellers that caused today's loss in the pps. Instead it was shareholders who decided to sell after the 'good news' because Chazen/OXY didn't follow through on announcing significant plans to increase shareholder value.
Despite the good news, investors/shareholders were disappointed. I have been long in OXY for many years. But OXY's pps has been stagnant for years. They definitely need to reorganize to increase shareholder value.
I'm also long COP, they reorganized their operations and the pps increased 50% over the next year and a half. Chazen and his management team are responsible for the fall in the pps today, because they failed to deliver.
One final thought; OXY is not a short term investment, so don't pay too much attention to daily/weekly/monthly pps fluctions. Stay with OXY for the long run and you'll do okay. Good luck to all OXY shareholders.
People wonder why there's no trust at all with WS and MM's. You beat on Revs and EPS and that isn't good enough. You got to be kidding. Just because of some headline of Q4 as being flat. Makes no sense at all. I'm with you.