If OXY management provides on single concrete detail about an action, this thing will rise $5. But it must take a lot of buying to move this stock. By so few on message board doesn't look like many individuals own this stock. 800 million shares - a lot of shares so takes institutional buying to move the needle. Been a lot of upgrades to buy. The word is getting out maybe.
But what I can't figure out is how Facebook with potentially 2,400,000,000 shares authorized and 1.4 billion outstanding is worth so much. Of course no one has to work to make money there--no one has to lay pipe or get mud for the drilling. It's hardly any work at all! There is no magic in what this company does. My point is that if we all had our money in Facebook over the last year we'd be up 150% whereas OXY is about at zero. They have got to do something to release value. It's show me time because money managers can make money investing in almost ANY other stock EXCEPT OXY and look better. Frankly I'm tired of waiting tired of losing. But will reassess in January. OXY needs some magic!
Yesterday, Merrill Lynch came out with a report that detailed what they thought the prices of various pieces would be worth. They are, admittedly, more optimistic than other brokers but if they are only half right, then there's $20 increase coming our way in next 12 months but they of course think will see increase in price much sooner than that. Very detailed report availble only to clients.
They performed a one-off comparison on various parts with other oil companies and think CEO Chazen will update investment community after board presentations "soon". Keep your fingers crossed. But small upward price movements look like there is some "nibbling" of OXY going on.