Latest news for Occidental Petroleum (NYSE:OXY) Stock

Occidental Petroleum

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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.

Business,Hands,Holding,The,Green,World,For,The,Sustainable,Development

Equities

News

Commodities

Legal

US Department Of Energy To Invest $3B in Battery Production

Occidental Petroleum stock

Large Cap

Guidance

FTXN

OILT

U.S. Department of Energy awards $500M to support Occidental&#39;s carbon management technology, with potential to expand to $650M.

Occidental&#39;s 1PointFive Secures $500M Boost To Capture CO2: Details

Warren Buffet sta abbandonando Bank of America, ma perché?

Markets

AAPL

Shares of Occidental Petroleum have taken a significant hit, impacting Warren Buffett&#39;s substantial investment in the company.

Warren Buffett $13B Bet On Occidental Petroleum Turns Sour As Shares Plunge 29% Since Mid-April — Analyst Says He Could Buy More

Occidental Petroleum Corporation Common Stock

Occidental Petroleum Corp

Oxygen

Occidental Petroleum Corporation Warrants

<p>On Friday, <strong>the U.S. Department of Energy (DOE) </strong>announced over $3 billion for 25 projects in 14 states to boost domestic production of advanced batteries and materials.</p>
<p>Of the 25 <a target="_blank" href="https://www.energy.gov/articles/biden-harris-administration-announces-over-3-billion-support-americas-battery#:~:text=WASHINGTON%2C%20D.C.%20%E2%80%94%20As%20part%20of,batteries%20and%20battery%20materials%20nationwide." rel="noreferrer noopener">selected</a> projects, over half have committed to or signed a Project Labor Agreement, and 10 have agreements with labor or neutrality pledges.</p>
<p>Union partners include NABTU, Boilermakers, SMART, Carpenters, Operating Engineers, UFCW, IBEW, and the UA. These projects, once finalized, are expected to create over 8,000 construction jobs and 4,000 operating jobs.</p>
<p>This initiative supports the administration's clean energy strategy alongside a $120 billion private sector investment in the EV supply chain.</p>
<p>These projects, which are essential for the U.S. grid and transportation electrification, are expected to improve facilities for producing battery-grade materials, components, manufacturing, and recycling.</p>
<p>The DOE is leveraging grants and loans to build a resilient battery manufacturing supply chain for Americans. Through MESC, the Investing in America agenda will generate $16 billion for battery manufacturing and recycling via the Battery Materials Processing and Manufacturing Program.</p>
<p>U.S. Secretary of Energy Jennifer M. Granholm said, "We're in the midst of a manufacturing revival in the United States as the Biden-Harris Administration's Investing in America agenda continues to breathe new life into communities and local economies across the country,"</p>
<p>John Podesta, Senior Advisor to President Biden for International Climate Policy, stated,<strong>&nbsp;</strong>"Today's battery manufacturing grants from DOE will boost America's manufacturing base, create good-paying union jobs all over the country, and help tackle the climate crisis."</p>
<p>As per Reuters report, <strong>Albemarle Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) will receive $67 million for a project in North Carolina to produce commercial quantities of anode material for next-generation lithium-ion batteries.</p>
<p>In addition, the DOE plans to award <strong>Dow Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) $100 million to produce battery-grade carbonate solvents for lithium-ion battery electrolytes.</p>
<p>Also, <strong>Honeywell International Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) is projected to attain $126.6 million to construct a commercial-scale facility in Louisiana for producing a key electrolyte salt essential for lithium batteries.</p>
<p>This month, <strong>Occidental Petroleum's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)&nbsp;subsidiary, 1PointFive, disclosed that the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) planned to provide up to $500 million to support the development of the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40850606/occidentals-1pointfive-secures-500m-boost-to-capture-co2-details" rel="noreferrer noopener">South&nbsp;Texas Direct Air Capture (DAC) Hub</a>.</p>
<p><strong>Read Next:</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com//node/40961594" target="_blank" rel="noreferrer noopener">Mullen Automotive Gears Up $210M EV Deal In Dubai – Delivers First Units To Volt Mobility</a></strong></li>
</ul>
<p><strong><em>Disclaimer:</em></strong><em> This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>
<p><em>Photo by earth phakphum via Shutterstock</em></p>


<p>Whales with a lot of money to spend have taken a noticeably bullish stance on <strong>Occidental Petroleum</strong>.</p>
<p>Looking at options history for Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) we detected 9 trades.</p>
<p>If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 44% with bearish.</p>
<p>From the overall spotted trades, 2 are puts, for a total amount of $203,760 and 7, calls, for a total amount of $659,920.</p>
<h3>Predicted Price Range</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $65.0 for Occidental Petroleum over the last 3 months. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Occidental Petroleum's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Occidental Petroleum's significant trades, within a strike price range of $40.0 to $65.0, over the past month.</p>
<h3>Occidental Petroleum 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726846232_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>09/19/25</td>
<td>$1.9</td>
<td>$1.8</td>
<td>$1.8</td>
<td>$65.00</td>
<td>$179.8K</td>
<td>73</td>
<td>581</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$4.8</td>
<td>$4.75</td>
<td>$4.8</td>
<td>$55.00</td>
<td>$142.5K</td>
<td>14.0K</td>
<td>6</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$2.7</td>
<td>$2.7</td>
<td>$2.7</td>
<td>$52.50</td>
<td>$135.0K</td>
<td>1.6K</td>
<td>0</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.85</td>
<td>$5.7</td>
<td>$5.7</td>
<td>$55.00</td>
<td>$114.0K</td>
<td>1.2K</td>
<td>203</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$0.98</td>
<td>$0.96</td>
<td>$0.96</td>
<td>$52.50</td>
<td>$96.1K</td>
<td>9.5K</td>
<td>1.5K</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.</p>
<h3>Present Market Standing of Occidental Petroleum</h3>
<ul>
<li>Trading volume stands at 4,072,063, with OXY's price down by -1.49%, positioned at $51.26.</li>
<li>RSI indicators show the stock to be may be oversold.</li>
<li>Earnings announcement expected in 46 days.</li>
</ul>
<h3>Expert Opinions on Occidental Petroleum</h3>
<p>Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $69.66666666666667.</p>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.<br />
&#x2A; An analyst from UBS persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $59.<br />
&#x2A; Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Occidental Petroleum, targeting a price of $78.<br />
&#x2A; Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Occidental Petroleum with a target price of $72. </p>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Occidental Petroleum options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Options

Occidental Petroleum Unusual Options Activity For September 20

<p>UBS  analyst Josh Silverstein   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and lowers the price target from $70 to $59.</p>


Price Target

Analyst Ratings

UBS Maintains Neutral on Occidental Petroleum, Lowers Price Target to $59

<p>Deep-pocketed investors have adopted a bullish approach towards Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 68% leaning bullish and 27% bearish. Among these notable options, 4 are puts, totaling $186,333, and 18 are calls, amounting to $1,141,830.</p>
<h3>What's The Price Target?</h3>
<p>After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $57.5 for Occidental Petroleum, spanning the last three months.</p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>In terms of liquidity and interest, the mean open interest for Occidental Petroleum options trades today is 4087.46 with a total volume of 20,477.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Occidental Petroleum's big money trades within a strike price range of $45.0 to $57.5 over the last 30 days.</p>
<h3>Occidental Petroleum Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726515928_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.83</td>
<td>$1.77</td>
<td>$1.82</td>
<td>$55.00</td>
<td>$126.4K</td>
<td>3.1K</td>
<td>1.6K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$8.1</td>
<td>$8.0</td>
<td>$8.0</td>
<td>$47.50</td>
<td>$112.0K</td>
<td>501</td>
<td>142</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$10.1</td>
<td>$9.9</td>
<td>$10.1</td>
<td>$50.00</td>
<td>$101.0K</td>
<td>988</td>
<td>42</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.98</td>
<td>$1.96</td>
<td>$1.98</td>
<td>$55.00</td>
<td>$98.9K</td>
<td>8.8K</td>
<td>1.8K</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$3.25</td>
<td>$3.2</td>
<td>$3.25</td>
<td>$52.50</td>
<td>$91.6K</td>
<td>3.1K</td>
<td>1</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>After a thorough review of the options trading surrounding Occidental Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Occidental Petroleum's Current Market Status</h3>
<ul>
<li>With a volume of 7,340,371, the price of OXY is up 0.25% at $51.18. </li>
<li>RSI indicators hint that the underlying stock may be oversold.</li>
<li>Next earnings are expected to be released in 50 days.</li>
</ul>
<h3>What Analysts Are Saying About Occidental Petroleum</h3>
<p>Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $73.33333333333333.</p>
<ul>
<li>Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $70. </li>
<li>An analyst from Susquehanna has decided to maintain their Positive rating on Occidental Petroleum, which currently sits at a price target of $78. </li>
<li>An analyst from Mizuho persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $72. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Occidental Petroleum, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Behind the Scenes of Occidental Petroleum's Latest Options Trends

<p>Mizuho  analyst Nitin Kumar   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and lowers the price target from $76 to $72.</p>


Mizuho Maintains Neutral on Occidental Petroleum, Lowers Price Target to $72

<p><strong>Occidental Petroleum Corporation</strong>&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) subsidiary, 1PointFive, disclosed that the U.S. Department of Energy&#8217;s Office of Clean Energy Demonstrations (OCED) will provide up to $500 million to support the development of the South <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40842544/1pointfives-south-texas-direct-air-capture-hub-awarded-u-s-department-of-energy-funding" rel="noreferrer noopener">Texas Direct Air Capture (DAC) Hub</a>.</p>
<p>1PointFive&#8217;s South Texas DAC Hub, located on the King Ranch in Texas, will start with a capacity to remove 500,000 metric tons of CO2 annually, with plans to scale to over 1 million metric tons.</p>
<p>The site could expand to remove 30 million metric tons per year and securely store up to 3 billion metric tons in saline formations.</p>
<p>The funding will be provided in multiple phases, starting with an initial award of $50 million to advance 1PointFive&#8217;s work at the South Texas DAC Hub.</p>
<p>This will support engineering, permitting, procurement of long-lead equipment, and continued community engagement to enhance the community benefits plan.</p>
<p>The total award for the South Texas DAC Hub is expected to reach up to $500 million for the initial DAC facility, with potential to increase to $650 million for expanding a regional carbon network in South Texas.</p>
<p>President and CEO Vicki Hollub, Occidental, said, &#8220;This award demonstrates how the U.S. Department of Energy is committed to realizing the full potential of DAC and its confidence in the South Texas DAC Hub to deliver CO2&nbsp;removal at a climate-relevant scale.&#8221;</p>
<p>In August, the company disclosed a $3 billion reduction in principal debt in the third quarter of 2024, driven by strong organic&nbsp;cash flow and <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40444032/occidental-petroleum-speeds-up-debt-repayment-with-3b-reduction-details" rel="noreferrer noopener">proceeds from divestitures</a>.</p>
<p>Following the anticipated closing of the $818 million Barilla Draw divestment, Occidental plans to use the proceeds for debt repayments.</p>
<p>Investors can gain exposure to the OXY stock via&nbsp;<strong>Texas Capital Funds Trust Texas Capital Texas Oil Index ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILT#NYSE">OILT</a>)&nbsp;and&nbsp;<strong>First Trust Nasdaq Oil &amp; Gas ETF</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXN#NASDAQ">FTXN</a>).</p>
<p><strong>Price Action</strong>: OXY shares are up 0.80% at $51.40 premarket at the last check Friday.</p>
<p><em>Photo via Shutterstock</em></p>
<p><strong>Read Next:</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/markets/equities/24/09/40848034/warren-buffett-13b-bet-on-occidental-petroleum-turns-sour-as-shares-plunge-29-since-mid-april-an" target="_blank" rel="noreferrer noopener">Warren Buffett $13B Bet On Occidental Petroleum Turns Sour As Shares Plunge 29% Since Mid-April — Analyst Says He Could Buy More</a></strong></li>
</ul>
<p><strong><em>Disclaimer:</em></strong><em> This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>


Occidental's 1PointFive Secures $500M Boost To Capture CO2: Details

<p>Shares of <strong>Occidental Petroleum</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) have plummeted 29% since mid-April, impacting <strong>Warren Buffett</strong>&#8216;s substantial investment in the company.</p>
<p><strong>What Happened</strong>: <strong>Chris Bloomstran</strong>, fund manager at <strong>Semper Augustus</strong>, suggested that while Buffett might buy more shares, he is unlikely to take over the company. Bloomstran noted that Buffett prefers Occidental to initiate a stock buyback program, which CEO <strong>Vicki Hollub</strong> has said will only happen after significant debt reduction, Business Insider <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-occidental-petroleum-stock-oil-price-drop-2024-9#:~:text=Occidental%20Petroleum%20shares%20have%20dropped,about%20dema">reported</a> on Friday.</p>
<p>&#8220;I wouldn&#8217;t rule out a purchase of additional shares,&#8221; Bloomstran said, according to the report. </p>
<p>Further compounding the issue, Buffett holds warrants to buy an additional 83.5 million shares at a strike price of $59.62, nearly 20% above the current market price, according to Bloomstran.</p>
<p>The decline in Occidental&#8217;s stock price aligns with a 23% drop in crude oil prices, driven by concerns over demand and excess supply. <strong>Berkshire Hathaway</strong>&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) $13 billion investment in Occidental Petroleum is now potentially underwater.</p>
<p>Buffett&#8217;s conglomerate has been accumulating shares of Occidental since early 2022, with a significant buying spree in June at around $60 per share. Currently, Berkshire owns a 29% stake in the oil producer.</p>
<p>The $55-$60 price range had previously acted as a support level for Occidental&#8217;s stock since Buffett began his purchases, but this floor has now been breached for the first time in over two years.</p>
<p>According to <strong>HedgeFollowe</strong>, Berkshire Hathaway&#8217;s average purchase price for its stake is estimated at $51.22 per share, slightly above the current trading price.</p>
<p><em>See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40825182/anthony-scaramucci-said-last-week-bitcoin-could-touch-up-to-200k-now-hes-thanking-living-l?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Said Last Week Bitcoin Could Touch Up to $200K, Now He&#8217;s Thanking &#8216;Living Legend&#8217; Mich</a></em></p>
<p><strong>Why It Matters</strong>: The setback for Buffett comes amid a <a href="https://www.benzinga.com/news/24/09/40805571/bank-of-america-ceo-on-buffetts-share-retreat-i-dont-know-what-exactly-he-is-doing-we-cant-ask">broader context of strategic shifts</a> and market movements. Recently, <strong>Bank of America</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) CEO <strong>Brian Moynihan</strong> commented on Buffett&#8217;s reduction of his stake in the bank, noting that Buffett has been a stabilizing force but has sold nearly $7 billion in shares since mid-July.</p>
<p>Buffett has been <a href="https://www.benzinga.com/opinion/24/09/40778693/three-stocks-warren-buffett-is-selling-as-a-recession-nears">selling shares in several companies</a>, including <strong>Apple Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Bank of America, as economic uncertainties loom.</p>
<p>Despite these challenges, Buffett&#8217;s investment acumen remains highly regarded. On his 94th birthday, Berkshire Hathaway <a href="https://www.benzinga.com/general/education/24/08/40652464/warren-buffett-celebrates-94th-birthday-with-1-trillion-market-cap-milestone-a-look-back-at-hig">reached a $1 trillion market cap milestone</a>, underscoring his long-term success. </p>
<p>However, even Buffett has <a href="https://www.benzinga.com/startups/24/09/40693497/warren-buffett-admitted-he-was-too-dumb-and-an-idiot-for-not-investing-in-amazon-early-on-but-finall">admitted to missed opportunities</a>, such as his late investment in <strong>Amazon.com Inc</strong>.</p>
<p>Back in the mid-1990s, when Amazon was just an online bookstore with big dreams, Buffett had the chance to invest. He also passed on buying shares during Amazon&#8217;s IPO in 1997. </p>
<p>Reflecting on this now, Buffett doesn&#8217;t shy away from admitting his mistake. &#8220;I was too dumb to realize&#8221; the potential of Amazon and its visionary founder, <strong>Jeff Bezos</strong>, he&#8217;s said, with his usual blend of humility and humor. </p>
<p><strong>Action Price</strong>: Occidental Petroleum&#8217;s stock is trading at $50.99, up 0.65% on Thursday. However, year to date, the stock has dropped by 15.09%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.</p>
<p><strong>Read Next: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/news/24/09/40743718/mark-cuban-says-kamala-harris-is-simply-doing-what-trump-did-in-2016-its-her-party-she-gets-to-set-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says Kamala Harris Is Simply Doing What Trump Did In 2016: &#8216;It&#8217;s Her Party. She Gets To Set The Rules&#8217;</a></strong></li>
</ul>
<p><em>Image Via Shutterstock </em></p>
<p>This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <u><a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a></u></p>


<p><a href="https://www.globenewswire.com/Tracker?data=XYaTK6UTn-D2L80k7GL_hkvdtrz2BVjXEsZPaKMpxUOLULayXBEpbpikibkQ91jYsW55hWmJzTge6g5V7a4fxA==">1PointFive</a>, a wholly owned subsidiary of Occidental, announced today that the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) will provide up to $500 million to support the development of the South Texas Direct Air Capture (DAC) Hub. The award is a milestone in furthering commercial-scale DAC in the United States and validation of Occidental and 1PointFive's ability to use their decades-long expertise in carbon management to accelerate the vital climate technology.<br /><br />&nbsp;</p>
<p>The funding will be provided in multiple tranches. The initial award of $50 million will advance 1PointFive's ongoing work at the South Texas DAC Hub. Upcoming activities include engineering, permitting, the procurement of long-lead equipment and continued community engagement to further 1PointFive's community benefits plan. The total award value for the South Texas DAC Hub is expected to be up to $500 million for the initial DAC facility at the site, and potentially increased up to $650 million for the development of an expanded regional carbon network in South Texas.</p>


Contracts

Occidental's 1PointFive's South Texas Direct Air Capture Hub Awarded $500M U.S. Department Of Energy Funding For The Initial DAC Facility At The Site, And Potentially Could Be Increased Up To $650M For The Development Of An Expanded Regional Carbon Network In South Texas

<p>Deep-pocketed investors have adopted a bearish approach towards Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 31% leaning bullish and 59% bearish. Among these notable options, 11 are puts, totaling $615,605, and 11 are calls, amounting to $478,964.</p>
<h3>Predicted Price Range</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $60.0 for Occidental Petroleum over the last 3 months. </p>
<h3>Insights into Volume &amp; Open Interest</h3>
<p>Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale trades within a strike price range from $30.0 to $60.0 in the last 30 days. </p>
<h3>Occidental Petroleum Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1725988548_0.png" alt="Options Call Chart" /></p>
<h3>Biggest Options Spotted:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$11.15</td>
<td>$10.85</td>
<td>$11.15</td>
<td>$60.00</td>
<td>$111.5K</td>
<td>6.4K</td>
<td style="text-align: right;">101</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$10.95</td>
<td>$10.85</td>
<td>$10.93</td>
<td>$60.00</td>
<td>$109.3K</td>
<td>6.4K</td>
<td style="text-align: right;">201</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$2.38</td>
<td>$2.33</td>
<td>$2.36</td>
<td>$50.00</td>
<td>$80.7K</td>
<td>3.9K</td>
<td style="text-align: right;">401</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$7.5</td>
<td>$7.2</td>
<td>$7.2</td>
<td>$45.00</td>
<td>$72.0K</td>
<td>1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$6.15</td>
<td>$6.0</td>
<td>$6.0</td>
<td>$60.00</td>
<td>$60.0K</td>
<td>668</td>
<td style="text-align: right;">105</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Current Position of Occidental Petroleum</h3>
<ul>
<li>Currently trading with a volume of 7,555,937, the OXY's price is down by -1.74%, now at $51.05. </li>
<li>RSI readings suggest the stock is currently may be oversold.</li>
<li>Anticipated earnings release is in 56 days.</li>
</ul>
<h3>What Analysts Are Saying About Occidental Petroleum</h3>
<p>3 market experts have recently issued ratings for this stock, with a consensus target price of $71.0.</p>
<ul>
<li>An analyst from Susquehanna persists with their Positive rating on Occidental Petroleum, maintaining a target price of $78. </li>
<li>Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Occidental Petroleum, targeting a price of $65. </li>
<li>An analyst from UBS has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $70. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Occidental Petroleum, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Occidental Petroleum Options Trading: A Deep Dive into Market Sentiment

<p>Deep-pocketed investors have adopted a bullish approach towards Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 25 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 44% leaning bullish and 36% bearish. Among these notable options, 16 are puts, totaling $973,358, and 9 are calls, amounting to $343,062.</p>
<h3>Expected Price Movements</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $72.5 for Occidental Petroleum during the past quarter. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.</p>
<p>This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price.</p>
<p>Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale activity within a strike price range from $40.0 to $72.5 in the last 30 days. </p>
<h3>Occidental Petroleum Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1725553061_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$6.15</td>
<td>$6.1</td>
<td>$6.14</td>
<td>$60.00</td>
<td>$122.8K</td>
<td>1.5K</td>
<td style="text-align: right;">206</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/13/24</td>
<td>$1.17</td>
<td>$1.16</td>
<td>$1.17</td>
<td>$55.00</td>
<td>$117.0K</td>
<td>2.2K</td>
<td style="text-align: right;">41</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.4</td>
<td>$3.3</td>
<td>$3.39</td>
<td>$55.00</td>
<td>$101.7K</td>
<td>22.0K</td>
<td style="text-align: right;">426</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$1.91</td>
<td>$1.9</td>
<td>$1.91</td>
<td>$55.00</td>
<td>$75.8K</td>
<td>6.5K</td>
<td style="text-align: right;">531</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$4.8</td>
<td>$4.7</td>
<td>$4.75</td>
<td>$57.50</td>
<td>$71.2K</td>
<td>26.0K</td>
<td style="text-align: right;">505</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Occidental Petroleum's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 6,613,198, the OXY's price is down by -1.72%, now at $53.69. </li>
<li>RSI readings suggest the stock is currently may be oversold.</li>
<li>Anticipated earnings release is in 61 days.</li>
</ul>
<h3>What Analysts Are Saying About Occidental Petroleum</h3>
<p>Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $70.8.</p>
<ul>
<li>An analyst from Stephens &amp; Co. has revised its rating downward to Overweight, adjusting the price target to $76. </li>
<li>An analyst from Susquehanna persists with their Positive rating on Occidental Petroleum, maintaining a target price of $78. </li>
<li>An analyst from Truist Securities has decided to maintain their Hold rating on Occidental Petroleum, which currently sits at a price target of $65. </li>
<li>An analyst from UBS persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $70. </li>
<li>Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Occidental Petroleum, targeting a price of $65. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Occidental Petroleum, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


A Closer Look at Occidental Petroleum's Options Market Dynamics

<p>Susquehanna  analyst Biju Perincheril   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Positive and lowers the price target from $81 to $78.</p>


Susquehanna Maintains Positive on Occidental Petroleum, Lowers Price Target to $78

WIIM

AROC

BANL

BWLP

CTRA

EQNR

FANG

GPOR

GPRE

HAFN

MTDR

PFIE

PTEN

SDRL

SHEL

TRMD

VIST

WFRD

Shares of oil and gas companies are trading lower following reports suggesting an impending deal will restart Libyan oil production and exports.

<p>High-rolling investors have positioned themselves bullish on Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's important for retail traders to take note.<br />
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in OXY often signals that someone has privileged information.</p>
<p>Today, Benzinga's options scanner spotted 11 options trades for Occidental Petroleum. This is not a typical pattern.</p>
<p>The sentiment among these major traders is split, with 63% bullish and 36% bearish. Among all the options we identified, there was one put, amounting to $192,550, and 10 calls, totaling $387,254.</p>
<h3>Expected Price Movements</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $47.0 to $60.0 for Occidental Petroleum during the past quarter. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.</p>
<p>This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price.</p>
<p>Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale activity within a strike price range from $47.0 to $60.0 in the last 30 days. </p>
<h3>Occidental Petroleum Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1724951788_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$4.15</td>
<td>$3.85</td>
<td>$3.85</td>
<td>$57.50</td>
<td>$192.5K</td>
<td>816</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2.85</td>
<td>$2.82</td>
<td>$2.82</td>
<td>$55.00</td>
<td>$66.8K</td>
<td>1.8K</td>
<td style="text-align: right;">261</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$7.75</td>
<td>$7.6</td>
<td>$7.7</td>
<td>$57.50</td>
<td>$47.7K</td>
<td>540</td>
<td style="text-align: right;">114</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$1.53</td>
<td>$1.52</td>
<td>$1.53</td>
<td>$60.00</td>
<td>$45.9K</td>
<td>9.5K</td>
<td style="text-align: right;">645</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$1.97</td>
<td>$1.96</td>
<td>$1.96</td>
<td>$60.00</td>
<td>$39.2K</td>
<td>2.6K</td>
<td style="text-align: right;">252</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Present Market Standing of Occidental Petroleum</h3>
<ul>
<li>With a trading volume of 5,370,025, the price of OXY is up by 0.39%, reaching $57.0.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 68 days from now.</li>
</ul>
<h3>Expert Opinions on Occidental Petroleum</h3>
<p>In the last month, 4 experts released ratings on this stock with an average target price of $69.0.</p>
<ul>
<li>Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Occidental Petroleum with a target price of $65. </li>
<li>An analyst from Truist Securities has decided to maintain their Hold rating on Occidental Petroleum, which currently sits at a price target of $65. </li>
<li>Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $70. </li>
<li>In a cautious move, an analyst from Stephens &amp; Co. downgraded its rating to Overweight, setting a price target of $76. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Occidental Petroleum, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Decoding Occidental Petroleum's Options Activity: What's the Big Picture?

<p>Deep-pocketed investors have adopted a bearish approach towards Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 38% leaning bullish and 55% bearish. Among these notable options, 2 are puts, totaling $378,567, and 16 are calls, amounting to $857,806.</p>
<h3>Predicted Price Range</h3>
<p>After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $67.5 for Occidental Petroleum, spanning the last three months.</p>
<h3>Volume &amp; Open Interest Development</h3>
<p>Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.</p>
<p>This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price.</p>
<p>Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale activity within a strike price range from $30.0 to $67.5 in the last 30 days. </p>
<h3>Occidental Petroleum Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1724702459_0.png" alt="Options Call Chart" /></p>
<h3>Biggest Options Spotted:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.13</td>
<td>$2.08</td>
<td>$2.11</td>
<td>$55.00</td>
<td>$331.6K</td>
<td>22.4K</td>
<td>1.6K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.97</td>
<td>$2.94</td>
<td>$2.94</td>
<td>$60.00</td>
<td>$294.0K</td>
<td>13.9K</td>
<td>1.3K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2.43</td>
<td>$2.42</td>
<td>$2.42</td>
<td>$57.50</td>
<td>$57.5K</td>
<td>5.0K</td>
<td>2.7K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$1.07</td>
<td>$1.05</td>
<td>$1.05</td>
<td>$60.00</td>
<td>$53.7K</td>
<td>12.5K</td>
<td>3.5K</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.24</td>
<td>$1.23</td>
<td>$1.23</td>
<td>$65.00</td>
<td>$47.7K</td>
<td>19.1K</td>
<td>892</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<h3>Current Position of Occidental Petroleum</h3>
<ul>
<li>With a trading volume of 9,078,112, the price of OXY is up by 0.34%, reaching $57.44.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 71 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Occidental Petroleum</h3>
<p>A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $69.0.</p>
<ul>
<li>An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $65. </li>
<li>An analyst from Truist Securities has decided to maintain their Hold rating on Occidental Petroleum, which currently sits at a price target of $65. </li>
<li>An analyst from UBS has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $70. </li>
<li>In a cautious move, an analyst from Stephens &amp; Co. downgraded its rating to Overweight, setting a price target of $76. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Occidental Petroleum with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Looking At Occidental Petroleum's Recent Unusual Options Activity

<p><a href="https://x.com/DougKass/status/1826643080868749332">https://x.com/DougKass/status/1826643080868749332</a></p>
<p>&nbsp;</p>


Rumors

Trading Ideas

Watching Occidental Petroleum; Shares Seeing A Pop In Volume To The Upside; Traders Circulate Seabreeze Capital Partners LP's Dougie Kass Post On X "I am seeing a size buyer in $OXY for the second day in a row..."

<p>Investors with a lot of money to spend have taken a bullish stance on <strong>Occidental Petroleum</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with OXY, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 20 uncommon options trades for Occidental Petroleum.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 50% bullish and 45%, bearish.</p>
<p>Out of all of the special options we uncovered, 7 are puts, for a total amount of $642,771, and 13 are calls, for a total amount of $492,118.</p>
<h3>Expected Price Movements</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $47.5 to $65.0 for Occidental Petroleum during the past quarter. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>In today's trading context, the average open interest for options of Occidental Petroleum stands at 4744.71, with a total volume reaching 6,453.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Occidental Petroleum, situated within the strike price corridor from $47.5 to $65.0, throughout the last 30 days.</p>
<h3>Occidental Petroleum Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1724177771_0.png" alt="Options Call Chart" /></p>
<h3>Biggest Options Spotted:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$5.6</td>
<td>$5.5</td>
<td>$5.5</td>
<td>$60.00</td>
<td>$275.3K</td>
<td>2.2K</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$3.25</td>
<td>$3.2</td>
<td>$3.2</td>
<td>$57.50</td>
<td>$103.0K</td>
<td>9.8K</td>
<td style="text-align: right;">330</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$2.78</td>
<td>$2.76</td>
<td>$2.78</td>
<td>$57.50</td>
<td>$86.1K</td>
<td>1.6K</td>
<td style="text-align: right;">464</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$12.0</td>
<td>$11.75</td>
<td>$12.0</td>
<td>$52.50</td>
<td>$60.0K</td>
<td>35</td>
<td style="text-align: right;">51</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/30/24</td>
<td>$3.15</td>
<td>$3.1</td>
<td>$3.1</td>
<td>$60.00</td>
<td>$49.9K</td>
<td>778</td>
<td style="text-align: right;">162</td>
</tr>
</tbody>
</table>
</p>
<h3>About Occidental Petroleum</h3>
<p>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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.</p>
<p>Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.</p>
<h3>Occidental Petroleum's Current Market Status</h3>
<ul>
<li>With a trading volume of 8,519,443, the price of OXY is down by -2.01%, reaching $56.23.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 77 days from now.</li>
</ul>
<h3>Expert Opinions on Occidental Petroleum</h3>
<p>A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $68.6.</p>
<ul>
<li>An analyst from UBS persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $70. </li>
<li>An analyst from Truist Securities has decided to maintain their Hold rating on Occidental Petroleum, which currently sits at a price target of $67. </li>
<li>Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Occidental Petroleum with a target price of $65. </li>
<li>Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Occidental Petroleum, targeting a price of $65. </li>
<li>Reflecting concerns, an analyst from Stephens &amp; Co. lowers its rating to Overweight with a new price target of $76.</li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Occidental Petroleum, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


<p>UBS  analyst Josh Silverstein   maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and raises the price target from $69 to $70.</p>


UBS Maintains Neutral on Occidental Petroleum, Raises Price Target to $70

<p><strong>Occidental Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) shares are trading higher today. The company disclosed a $3 billion reduction in principal debt in the third quarter of 2024, driven by strong organic<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40437811/occidental-announces-continued-progress-on-debt-reduction-and-divestiture-initiatives" rel="noreferrer noopener"> cash flow and proceeds from divestitures</a>.</p>
<p>Following the anticipated closing of the $818 million Barilla Draw divestment, Occidental plans to use the proceeds for debt repayments. This will bring its year-to-date debt reductions to over $3.8 billion, meeting about 85% of its $4.5 billion near-term debt reduction target.</p>
<p>Occidental Petroleum raised $700 million last week through the <a target="_blank" href="https://www.benzinga.com//node/40325107" rel="noreferrer noopener">sale of 19.5 million common units</a> in <strong>Western Midstream Partners, LP </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>). The company has now reached approximately $1.7 billion in completed or announced divestments for 2024.</p>
<p>The proceeds from its divestiture program will be used for debt reduction, while the company will also advance deleveraging through free cash flow.</p>
<p>Vicki Hollub, President and CEO, said, &#8220;We are pleased with the rapid and significant progress of our deleveraging program along with enhancements made to our already premier portfolio. By the end of the third quarter, we expect to achieve nearly 85% of our near-term $4.5 billion debt reduction commitment.&#8221;</p>
<p>Earlier this month, Occidental completed a $12 billion acquisition of CrownRock, enhancing the Permian portfolio <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40131532/whats-going-on-with-occidental-petroleum-shares-friday" rel="noreferrer noopener">with 170 Mboed high-margin production</a>.</p>
<p>Investors can gain exposure to the OXY stock via&nbsp;<strong>Texas Capital Funds Trust Texas Capital Texas Oil Index ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILT#NYSE">OILT</a>)&nbsp;and&nbsp;<strong>First Trust Nasdaq Oil &amp; Gas ETF</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXN#NASDAQ">FTXN</a>).</p>
<p><strong>Price Action</strong>: OXY shares are up 0.51% at $57.91 at the last check Monday.</p>
<p><strong><em>Disclaimer:</em></strong><em> This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>
<p><em>Photo via Shutterstock</em></p>
<p><strong>Read Next:</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40260354/stuck-in-neutral-occidental-petroleum-beat-eps-consensus-but-faces-slowing-business" target="_blank" rel="noreferrer noopener">Stuck In Neutral: Occidental Petroleum Beat EPS Consensus But Faces Slowing Business, Analyst Says</a></strong></li>
</ul>


Occidental Petroleum Speeds Up Debt Repayment with $3B Reduction: Details

Occidental Achieves $3B Principal Debt Reduction In Q3 2024, Raises $700M From Public Offering Of Western Midstream Units, Expects Total YTD Debt Reduction To Surpass $3.8B After Closing Barilla Draw Divestiture

<p>In pre-market trading, shares of <strong>Ulta Beauty Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) and <strong>Heico Corp</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) are experiencing a significant surge. This comes after <strong>Berkshire Hathaway</strong> Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) announced an increase in its holdings in these companies.</p>
<p><strong>What Happened</strong>: According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, Ulta Beauty Inc. and Heico Corp saw pre-market gains of 16.39% and 3.85% respectively. Other companies, such as <strong>Chubb Limited</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) and <strong>Occidental Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), also saw minor pre-market increases. Chubb Limited&#8217;s shares rose by 0.41%, while Occidental Petroleum Corporation&#8217;s shares increased by 0.97%. </p>
<p>The company has boosted its holdings in Chubb to 27,033,784 shares and Occidental Petroleum to 255,281,524 shares. Additionally, it has made new, smaller investments in aerospace parts manufacturer Heico Corp with 1,044,242 shares and cosmetics retailer Ulta Beauty Inc with 690,106 shares.</p>
<p><strong>See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385566/mark-cuban-gets-an-assurance-out-of-chuck-schumer-will-pass-sensible-and-long-lasting-cryp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Gets An Assurance Out Of Chuck Schumer: Will Pass &#8216;Sensible And Long-Lasting&#8217; Crypto Law By Year-End</a></strong></p>
<p><strong>Why It Matters</strong>: The surge in these stocks comes after Berkshire Hathaway, led by renowned investor <strong>Warren Buffett</strong>, <a href="https://www.benzinga.com/markets/equities/24/08/40385824/warren-buffett-still-holds-400m-apple-shares-reveals-new-investments-in-ulta-beauty-and-heico-el">disclosed significant stock sales</a> in the second quarter, including a substantial reduction in its <strong>Apple Inc. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) holdings. Despite selling over 389 million Apple shares, Berkshire Hathaway still retains 400 million Apple shares. The exact number of shares sold was only clarified recently. </p>
<p><strong>Read Next: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385886/trump-era-white-house-official-anthony-scaramucci-says-industry-leaders-want-bipartisan-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump-Era White House Official Anthony Scaramucci Says Industry Leaders Want Bipartisan Commitment On Crypto Regulation: &#8216;We Don&#8217;t Want To Fight Any Side&#8217;</a></strong></li>
</ul>
<p><em>Image via Shutterstock</em></p>
<p>This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <u><a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a></u></p>


Pre-Market Outlook

General

ULTA

These 4 Stocks Are Soaring In Premarket As Warren Buffett's Berkshire Hathaway Takes A Stake

Has OXY Finally Hit The Bottom?

Occidental Petroleum: Stay Calm And Continue Buying

Occidental: Warren Buffett Was Too Early

Gulf of Mexico drillers gradually resume activities in wake of hurricane

APA Corporation: A Stable Business With Good Potential

22% Yielding TORM: A Very Buyable Crash (Rating Upgrade)

Western Midstream Can Continue Strong Shareholder Returns

Energy Transfer Vs. Western Midstream: I Only Own One

Why Energy Stocks Are The Ultimate Undervalued Dividend Play Right Now

The Retiree's Taxable Dividend August 2024 Portfolio Review - Energy Sector Starts To Look Interesting Again

AMLP

BOIL

BTAFF

DRIP

EPDU

GUSH

KOLD

USAC

USOI

VNOM

Press Releases

Occidental Announces Termination of Exchange Offer and Consent Solicitation for CrownRock Notes

Permian Resources Announces Strong Second Quarter 2024 Results and Increased Full Year Guidance

Earnings

Occidental Announces Second Quarter 2024 Results

Offerings

WESTERN MIDSTREAM ANNOUNCES SECONDARY PUBLIC OFFERING OF COMMON UNITS

Financing

Occidental Announces Launch of Secondary Offering

WESTERN MIDSTREAM ANNOUNCES PRICING OF SECONDARY PUBLIC OFFERING OF COMMON UNITS

Occidental Announces Continued Progress on Debt Reduction and Divestiture Initiatives

1PointFive's South Texas Direct Air Capture Hub Awarded U.S. Department of Energy Funding

Drone Usage for Automated UAV Monitoring Solutions Witnessing Rapid Growth & Increasing Revenue Generating Opportunities

Permian Resources Announces Closing of Bolt-On Acquisition of Core Delaware Basin Assets

CSE:DPRO

DPRO

Chevron

Ecopetrol S.A. American Depositary Shares

Ecopetrol

Equinor

Petroleo Brasileiro S.A.- Petrobras Common Stock

Petrobras Brasileiro

Petroleo Brasileiro S.A.- Petrobras American Depositary Shares

Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares)

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

Occidental Petroleum

News

Latest news for Occidental Petroleum (NYSE:OXY) Stock

People Also Watch