Occidental Petroleum Corp. stock trades under the ticker OXY & has shown recent bullishness that traders & investors should research further into.
OXY stock closed at $65.63/share on 2/11/2023.
Occidental Petroleum Corp. OXY Stock’s Technical Performance Broken Down
OXY Stock Price: $65.53
10 Day Moving Average: $63.50
50 Day Moving Average: $64.15
200 Day Moving Average: $64.82
RSI: 54.4
MACD: -0.227
On Friday, OXY stock completed a bullish MACD crossover, gaining 3.84% on the day’s session.
Recent trading volumes have been below average & their RSI is neutral, signaling the market is uncertain as to where they value OXY after its recent consolidation period.
OXY stock has support at the $64.82 (200 Day Moving Average) & $64.60/share price level, as they attempt to break out & above their $65.78 & $66.63/share resistance levels.
Occidental Petroleum Corp. OXY Stock As A Long-Term Investment
Investors with long-term time horizons will like OXY stock’s 5.45 P/E (ttm) & their 3.15 P/B (mrq).
They recently reported 38.3% Quarterly Revenue Growth Y-o-Y, with 231.6% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a more thorough examination, with $1.23B of Total Cash (mrq) & $21.67B of Total Debt (mrq).
OXY pays a modest, but sustainable 0.63% dividend, which has a 3.32% payout ratio.
79.2% of OXY stock’s outstanding share float is owned by institutional investors.
Occidental Petroleum Corp. OXY Stock As A Short-Term Trade Using Options
Trades focused on short-term time frames can trade options to profit from OXY stock’s price movements while protecting their portfolio from volatility.
I am looking at the contracts with the 3/17 expiration date.
The $65, $60 & $62.50 call options are all in-the-money, listed from highest to lowest level of open interest.
The $70, $65 & $72.50 puts are also all in-the-money, with the former being more liquid than the latter strike prices.
Tying It All Together
OXY stock has many interesting attributes that traders & investors are sure to find appealing.
Investors will like their safe dividend, as well as their valuation metrics.
Traders will like their recent technical performance, as well as how liquid their options are.
All-in-all, it is worth taking a closer look into OXY stock to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN OXY STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***