Why Occidental Petroleum's Stock Is Trading Higher Today

Occidental Petroleum Corporation OXY shares are trading higher on Friday after Suntrust Robinson Humphrey upgraded the stock from Hold to Buy and raised its price targets from $13 to $25 per share.

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 996,000 barrels of oil equivalent per day in 2019 at a ratio of 76% oil and natural gas liquids and 24% natural gas.

Occidental Petroleum shares were trading up 4.47% at $20.55 at the time of publication on Friday. The stock has a 52-week high of $54.05 and a 52-week low of $9.

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