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Occidental Petroleum (OXY) Surges: Stock Moves 6% Higher

Zacks Equity Research

Occidental Petroleum Corporation OXY was a big mover last session, as the company saw its shares rise more than 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $42.13 to $46.43 in the past one-month time frame.

The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Occidental Petroleum currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.  

Occidental Petroleum Corporation Price

Occidental Petroleum Corporation Price

Occidental Petroleum Corporation price | Occidental Petroleum Corporation Quote

Investors interested in the Oils-Energy sector may consider Canadian Solar Inc. CSIQ, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is OXY going up? Or down? Predict to see what others think:Up or Down

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