La chaîne d'options affiche les données clés des options sur actions de Occidental Petroleum à différents prix d'exercice et dates d'expiration. Les traders utilisent ces informations pour analyser les transactions potentielles et évaluer le sentiment du marché pour Occidental Petroleum..

Occidental Petroleum (NYSE:OXY) Stock, Chaîne d'Options

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.

Occidental Petroleum Corporation Common Stock

Occidental Petroleum Corp

Oxygen - United States Dollar

Occidental Petroleum Corporation Warrants

OCCIDENTAL PETROLEUM ORD

On Saturday, Berkshire Hathaway (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>) registered a decline in <a href="https://www.businesswire.com/news/home/20241102654212/en/Berkshire-Hathaway-Inc.-News-Release" target="_blank" rel="noreferrer noopener">third-quarter</a> operating earnings, driven by weakness in the insurance underwriting segment.
The Omaha-based company&#8217;s quarterly <a target="_blank" href="https://www.berkshirehathaway.com/qtrly/3rdqtr24.pdf" rel="noreferrer noopener">operating earnings</a> of $10.09 billion slumped over 6% from $10.761 billion in the year-ago quarter.
Approximately 70% of the aggregate fair value was concentrated in five companies, as of September-end 2024:
<ul>
<li>American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) &nbsp;&#8211; $41.1 billion</li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&nbsp;&#8211; $69.9 billion</li>
<li>Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) &#8211; $31.7 billion</li>
<li>Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>)&nbsp;&#8211; $28.7 billion&nbsp;</li>
<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) &#8211; $17.5 billion</li>
</ul>
It seems <a href="https://www.benzinga.com/topic/warren-buffett">Warren Buffett</a> has vended another considerable slice of his Apple stake, continuing to reduce Berkshire Hathaway&#8217;s most significant equity investment for the fourth consecutive quarter.
Despite the ongoing selling spree, Berkshire did not buy back any company shares during the period.
Berkshire Hathaway&#8217;s cash reserves soared to a record $325.2 billion as of September-end, increasing from $276.9 billion in the second quarter, as Warren Buffett continued selling stocks, per a <a href="https://www.cnbc.com/2024/11/02/berkshire-hathaways-cash-fortress-tops-300-billion-as-buffett-sells-more-stock-freezes-buybacks.html" target="_blank" rel="noreferrer noopener">news</a> report from CNBC.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/11/41700057/warren-buffetts-frugal-lifestyle-was-once-highlighted-in-the-office-cameo-what-about-mileag" rel="noreferrer noopener">Warren Buffett&#8217;s Frugal Lifestyle Was Once Highlighted In &#8216;The Office&#8217; Cameo: &#8216;What About Mileage When I Use My Car, I Mean Gas Ain&#8217;t Cheap You Know&#8217;</a>
This suggests that Buffett sold roughly a quarter of his stake, leaving around 300 million shares in his holdings. Overall, CNBC <a target="_blank" href="https://www.cnbc.com/2024/11/02/berkshire-hathaway-brk-earnings-q3-2024.html" rel="noreferrer noopener">reported</a> that his stake has decreased by 67.2% compared to the end of the third quarter of last year.
He began reducing his stake in the iPhone manufacturer during the fourth quarter of 2023 and significantly increased his selling in the second quarter, when he unexpectedly sold nearly half of his investment, the report added.
Berkshire and its subsidiaries also invest in certain businesses using the equity method, with significant holdings in common stock of The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) and Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>).
As of September 30, 2024, the firm owned 26.9% of Kraft Heinz&#8217;s outstanding shares and 28.2% of Occidental&#8217;s outstanding shares.
Q3 In Detail
The company reported third-quarter net earnings of $18,272 per average equivalent Class A share, compared with a $(8,824) loss per share in the year-ago period.&nbsp;
The company registered net earnings of $12.18 per average equivalent Class B share, compared with $(5.88) per share year over year.
In the third quarter, insurance underwriting generated earnings of $750 million versus $2.42 billion year over year (down 69%).
Earnings from insurance investment income were $3.664 billion, higher&nbsp;than $2.470 billion a year ago.
Buffett, 94, is one of the best-known fundamental investors in the world. Known as the &#8220;Oracle of Omaha,&#8221; he has a real-time net worth of $142.2 billion&nbsp;<a target="_blank" href="https://www.forbes.com/profile/warren-buffett/?sh=2ee1b9a34639" rel="noreferrer noopener">per</a> Forbes.
Read Next:
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<li><a href="https://www.benzinga.com/general/education/24/10/41418702/warren-buffetts-words-of-wisdom-benzinga-readers-pick-their-favorite-oracle-of-omaha-quote" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Words Of Wisdom: Benzinga Readers Pick Their Favorite Oracle Of Omaha Quote</a></li>
</ul>

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Markets

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AAPL

Berkshire Hathaway Reports Decline In Q3 Operating Earnings, Further Reduces Apple Stake

Whales with a lot of money to spend have taken a noticeably bullish stance on Occidental Petroleum.
Looking at options history for Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $56,200 and 10, calls, for a total amount of $829,567.
<h3>What's The Price Target?</h3>
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 $55.0 for Occidental Petroleum, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Occidental Petroleum options trades today is 3501.89 with a total volume of 1,614.00.
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 $55.0 over the last 30 days.
<h3>Occidental Petroleum 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730302239_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$6.4</td>
<td>$6.3</td>
<td>$6.4</td>
<td>$50.00</td>
<td>$192.0K</td>
<td>1.2K</td>
<td style="text-align: right;">371</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$7.5</td>
<td>$7.4</td>
<td>$7.5</td>
<td>$45.00</td>
<td>$120.0K</td>
<td>369</td>
<td style="text-align: right;">160</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$10.85</td>
<td>$9.45</td>
<td>$9.7</td>
<td>$50.00</td>
<td>$96.9K</td>
<td>1.2K</td>
<td style="text-align: right;">101</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$9.4</td>
<td>$9.3</td>
<td>$9.4</td>
<td>$45.00</td>
<td>$96.8K</td>
<td>282</td>
<td style="text-align: right;">103</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$11.9</td>
<td>$9.6</td>
<td>$9.6</td>
<td>$50.00</td>
<td>$96.0K</td>
<td>1.2K</td>
<td style="text-align: right;">201</td>
</tr>
</tbody>
</table>

<h3>About Occidental Petroleum</h3>
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.
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.
<h3>Where Is Occidental Petroleum Standing Right Now?</h3>
<ul>
<li>With a volume of 2,215,874, the price of OXY is up 0.42% at $50.29. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 13 days.</li>
</ul>
<h3>Expert Opinions on Occidental Petroleum</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $64.0.
Unusual Options Activity Detected: Smart Money on the Move
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">Click here for access</a>. 
&#x2A; An analyst from Barclays persists with their Equal-Weight rating on Occidental Petroleum, maintaining a target price of $58. 
&#x2A; In a cautious move, an analyst from Goldman Sachs downgraded its rating to Neutral, setting a price target of $55. 
&#x2A; Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Occidental Petroleum, targeting a price of $65. 
&#x2A; Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Occidental Petroleum, targeting a price of $65. 
&#x2A; Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Occidental Petroleum with a target price of $77. 
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.

Options

This Is What Whales Are Betting On Occidental Petroleum

Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) shares are trading lower on Monday, along with other stocks in the oil sector, after Israel reportedly did not damage Iran&#8217;s oil sites amid strikes <a href="https://www.benzinga.com/news/24/10/41571526/exxon-shell-warren-buffett-backed-occidental-petroleum-and-other-oil-stocks-tumble-in-premarket-afte">over the weekend</a>.
What To Know: According to <a href="https://www.bbc.com/news/articles/cgr0yvrx4qpo">BBC</a>, Israel launched airstrikes at Iran in retaliation for the more than 180 missiles fired at Israel <a href="https://www.bbc.com/news/articles/c9dyxxgxv1jo">earlier this month</a>. 
The attacks reportedly began around 2:15 a.m. (22:45 GMT) on Saturday, with Iranian media documenting explosions near Tehran, Iran&#8217;s capital. The assault lasted approximately three hours and involved aircraft, jets, and drones, resulting in the deaths of four Iranian soldiers and one civilian.
The Israel Defense Force (IDF) stated that its strikes targeted military sites in various regions. While the attacks impacted Iran&#8217;s air defenses, along with its missile, drone production, and launch capabilities, the strikes spared Iran's oil and nuclear facilities.
This comes after U.S. President Joe Biden had urged Israel not to strike Iran&#8217;s oil or nuclear infrastructure.
Researchers told Reuters that the strikes might have, &#8220;significantly hampered Iran&#8217;s ability to mass produce missiles,&#8221; as the strikes hit a military complex near Tehran.
Israeli Prime Minister Benjamin Netanyahu said Israel had, &#8220;severely damaged Iran's defense capability and its ability to produce missiles.&#8221;
How To Buy Occidental Petroleum Stock 
By now you're likely curious about how to participate in the market for Occidental Petroleum &#8211; be it to purchase shares or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Occidental Petroleum, which is trading at $50.8 as of publishing time, $100 would buy you 1.97 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41562669/bitcoin-analyst-predicts-new-highs-amid-market-stagnation-we-are-right-on-track-rig">Bitcoin Analyst Predicts New Highs Amid Market Stagnation: &#8216;We Are Right On Track, Right On Schedule&#8217;</a>
OXY Price Action: As of Monday morning, Occidental Petroleum shares are moving 1.64% lower at $50.74, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

What's Going On With Occidental Petroleum Shares Monday?

Major oil companies witnessed a decline in their stock prices following Israel&#8217;s military action against Iran over the weekend. The market reaction reflects investor concerns about potential geopolitical instability impacting the oil sector.
What Happened: According to <a href="https://pro.benzinga.com">Benzinga Pro,</a> several leading oil firms saw their stock values decrease on Monday during pre-market hours. Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) experienced a 2.08% drop in pre-market trading. Similarly, Warren Buffett&#8217;s Berkshire Hathaway-backed Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) faced a 2.37% decline in its share price.
Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) was also affected, with its stock falling by 1.94%. Meanwhile, Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) saw a 2.36% decrease in trading value. These stock movements followed Israel&#8217;s &#8220;limited&#8221; strikes on Iran, as reported by local media.
Analysts have suggested that the impact on oil supplies may not be as severe as initially feared. However, the market&#8217;s response indicates ongoing concerns about geopolitical tensions affecting the oil industry.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41560703/november-interest-rate-cut-almost-a-done-deal-as-blackout-begins-10-stocks-surging-the-most-sinc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">November Interest Rate Cut Almost A Done Deal As Blackout Begins: 10 Stocks Surging The Most Since Fed&#8217;s Last Decision</a>
Why It Matters: The recent military strikes by Israel targeted Iranian sites in three provinces, following a ballistic missile attack by Tehran on Oct. 1. According to the Iranian news agency Tasnim, the strikes resulted in the deaths of four soldiers and caused &#8220;limited damages,&#8221; sparing oil, nuclear, and civilian infrastructure.
Oil-based exchange-traded funds (ETFs) also experienced <a href="https://www.benzinga.com/news/24/10/41567809/oil-etfs-plunge-premarket-after-israels-strikes-on-iran">a significant decline,</a> dropping over 4%. The sharp decline in oil prices, exceeding 4% on Monday, underscores the market&#8217;s sensitivity to geopolitical developments.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41552613/cannabis-stocks-rally-canopy-aurora-sndl-organigram-and-others-see-gains?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cannabis Stocks Rally: Canopy, Aurora, SNDL, OrganiGram</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Commodities

Pre-Market Outlook

SHEL

Exxon, Shell, Warren Buffett-Backed Occidental Petroleum And Other Oil Stocks Tumble In Premarket After Israel's Strikes On Iran

Stocks set for positive start after mixed week, earning news may cushion downside. Nasdaq gains 7th straight week, 7 'Magnificent' companies to post earnings.
U.S. stocks could get off to a positive start on Monday after the <a href="https://www.benzinga.com/markets/equities/24/10/41556896/investors-cautious-with-election-ahead-treasury-yields-surge-further-tesla-surprises-this-week-i">averages registered a mixed week</a>. While the S&amp;P 500 and Dow Jones snapped their six-week winning streak, the Nasdaq Composite chalked its seventh straight week of gains.
Earning news flow will continue to pick up momentum in the coming days, potentially cushioning any downside, with five of the &#8220;Magnificent 7&#8221; companies all set to post their earnings this week. This includes Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.78%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.62%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.52%</td>
</tr>
<tr>
<td>R2K</td>
<td>0.68%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) gained 0.64% to $582.72 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.77% to $499.11, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Week: Amid simmering tensions in the Middle East and Israel's missile strikes in Iran, oil prices tumbled over the weekend.
Treasury yields rose during the week, signaling concerns that regardless of who wins the elections, the next administration might struggle with fiscal discipline. This sentiment was further exacerbated by the International Monetary Fund's warnings on the long-term trajectory&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41495286/deficit-strain-in-washington-will-get-worse-imf-warns-national-debt-projections-rev" target="_blank" rel="noreferrer noopener">of the U.S. national debt</a>.
On the economic data front, the University of Michigan consumer sentiment for the U.S. rose to 70.5 in October compared to a preliminary reading of 68.9.
Both the Dow Jones and S&amp;P 500 ended a six-week winning streak, falling around 1% and 2.7%, respectively. The Nasdaq recorded gains for the seventh straight week, gaining nearly 0.2% last week.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Week&#8217;s Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.2%</td>
<td>18,518.61</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-1%</td>
<td>5,808.12</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-2.7%</td>
<td>42,114.40</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.87%</td>
<td>2,207.99</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts: Ryan Detrick, Chief Market Strategist at Carson Group, highlighted that this was the best "Sell in May" period since 2009.
"This is the best &#8216;sell in May&#8217; period since 2009. Remember when they told us to sell because of valuations, yield curves, wars, inflation, Fed, elections, quad poor, GDI, LEIs, weak breadth, recessions, etc? I do,&#8221; he wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is the best &#39;sell in May&#39; period since 2009. Remember when they told us to sell because of valuations, yield curves, wars, inflation, Fed, elections, quad poor, GDI, LEIs, weak breadth, recessions, etc? I do. Thankfully <a href="https://twitter.com/CarsonResearch?ref_src=twsrc%5Etfw">@CarsonResearch</a> pushed back against them all.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1850733217428431301?ref_src=twsrc%5Etfw">October 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"What happens next? Strength in these usually weak months is a clue the bull is alive and well."
He added that the best six months of the year for equity markets are "right around the corner."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The S&amp;P 500 is currently up 15.4% during the &#39;Sell in May&#39; period for one of the best returns ever. What happens next? Strength in these usually weak months is a clue the bull is alive and well. When &gt;10% or more? Next six months higher 10 of 11 times and up 13.2% on avg. &#x1f4aa; <a href="https://t.co/EpVH1thdKT">pic.twitter.com/EpVH1thdKT</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1850732049952379039?ref_src=twsrc%5Etfw">October 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, despite mega-cap earnings scheduled for this week, rising treasury yields could potentially play spoilsport, according <a href="https://www.schwab.com/learn/story/weekly-traders-outlook">to</a> Nathan Peterson, Director of Derivatives Analysis at the Schwab Center for Financial Research.
"If yields continue to move higher next week this could generate selling pressure, regardless of mega-cap tech earnings," Peterson said.
He underscored that pre-election selling next week is a "possibility" and that there could be higher volatility in the markets.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data: Monday's economic calendar is light, with only the Dallas Fed's Manufacturing Business Index for October set to be released.
<ul>
<li>On Monday, the Dallas Fed Manufacturing Business Index will be released at 10:30 a.m. ET.</li>
<li>On Tuesday, retail (ex-auto) and wholesale inventory data will be released at 8:30 a.m. ET.</li>
<li>House Price Index will be released at 9 a.m. ET.</li>
<li>On Wednesday, Mortgage Market and Refinance indices will be released at 7 a.m. ET.</li>
<li>The Bureau of Economic Analysis will release Q3 GDP numbers at 8:30 a.m. ET.</li>
<li>The U.S. Department of Commerce will release the Q3 Real Consumer Spending data at 8:30 a.m. ET.</li>
<li>Pending home sales data will be released at 10 a.m. ET.</li>
<li>Crude oil inventories data will be released at 10:30 a.m. ET.</li>
<li>On Thursday, pending jobless claims and the Core PCE price index will be announced at 8:30 a.m. ET.</li>
<li>On Friday, payroll data will be released at 8:30 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), and Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) fell by over 2% in premarket trading due to falling crude oil prices.</li>
<li>Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) rose over 2% after the company sued CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) for the July IT outage, <a href="https://www.benzinga.com/news/24/10/41562639/delta-air-lines-sues-crowdstrike-for-500m-over-july-outage-that-disrupted-flights-affecting-1-3m-cus">saying it cost the company over $500 million</a>.</li>
<li>Taiwan Semiconductor Manufacturing Co. Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NASDAQ">TSM</a>) shares fell 1.7% after cofounder Morris Chang warned that the company faces challenges due to a growing threat to the free trade of chips amid geopolitical tensions.</li>
<li>Investors are awaiting earnings results from ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Waste Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>), and Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets: Crude oil futures tumbled in the early New York session, falling by over nearly 6% due to Israel's strikes on Iran.
The 10-year Treasury note yield surged to 4.254%.
Major Asian markets ended mixed on Monday, while European stocks showed tentativeness and were mostly lower in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/10/41565506/mohamed-el-erian-flags-japans-striking-inflation-paradox-as-shigeru-ishibas-ruling-ldp-loses-majorit">Mohamed El-Erian Flags Japan&#8217;s &#8216;Striking&#8217; Inflation Paradox As Shigeru Ishiba&#8217;s Ruling LDP Loses Majority — Yen Tumbles To 3-Month Low Against Dollar</a></li>
</ul>
Photo courtesy: Wikimedia

Futures

Economics

Federal Reserve

Trading Ideas

AMZN

CRWD

GOOG

GOOGL

MSFT

US Stocks Likely To Open In Green As Investors Eye 'Magnificent 7' Earnings This Week: Oil Prices Tumble, Expert Highlights Best 'Sell In May' Period Since 2009

WIIM

DWSN

EQNR

FANG

NINE

RCON

Shares of oil and oil-related companies are trading lower after Israel reportedly did not damage Iran's oil sites amid strikes over the weekend.

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.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 27 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 66% bearish. Among these notable options, 12 are puts, totaling $1,654,155, and 15 are calls, amounting to $911,281.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $67.5 for Occidental Petroleum over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Occidental Petroleum options trades today is 4460.96 with a total volume of 13,002.00.
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 $67.5 over the last 30 days.
<h3>Occidental Petroleum Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729708259_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$3.4</td>
<td>$3.3</td>
<td>$3.31</td>
<td>$45.00</td>
<td>$595.8K</td>
<td>5.8K</td>
<td>1.8K</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$12.4</td>
<td>$12.3</td>
<td>$12.4</td>
<td>$62.50</td>
<td>$243.0K</td>
<td>1.1K</td>
<td>197</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$7.5</td>
<td>$7.4</td>
<td>$7.5</td>
<td>$50.00</td>
<td>$225.0K</td>
<td>684</td>
<td>316</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$10.65</td>
<td>$10.6</td>
<td>$10.65</td>
<td>$60.00</td>
<td>$181.0K</td>
<td>6.0K</td>
<td>171</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$16.35</td>
<td>$16.25</td>
<td>$16.35</td>
<td>$67.50</td>
<td>$174.9K</td>
<td>539</td>
<td>109</td>
</tr>
</tbody>
</table>

<h3>About Occidental Petroleum</h3>
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.
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.
<h3>Present Market Standing of Occidental Petroleum</h3>
<ul>
<li>Currently trading with a volume of 4,085,232, the OXY's price is down by -1.74%, now at $51.2. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 20 days.</li>
</ul>
<h3>What The Experts Say On Occidental Petroleum</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $63.2.
Unusual Options Activity Detected: Smart Money on the Move
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">Click here for access</a>. 
&#x2A; An analyst from Evercore ISI Group has decided to maintain their Underperform rating on Occidental Petroleum, which currently sits at a price target of $63. 
&#x2A; An analyst from Susquehanna has decided to maintain their Positive rating on Occidental Petroleum, which currently sits at a price target of $77. 
&#x2A; Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Occidental Petroleum, targeting a price of $65. 
&#x2A; Reflecting concerns, an analyst from Goldman Sachs lowers its rating to Neutral with a new price target of $55. 
&#x2A; An analyst from Wells Fargo persists with their Equal-Weight rating on Occidental Petroleum, maintaining a target price of $56. 
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.
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.

Check Out What Whales Are Doing With OXY

Occidental Petroleum Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oxy#NYSE">OXY</a>) is down 13.4% in 2024 and over 20% in the last 12 months. However, that hasn&#39;t seemed to bother Warren Buffett one bit. His Berkshire Hathaway Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-b#NYSE">BRK-B</a>) portfolio has continued to buy OXY stock. As of this writing, Berkshire owns approximately 29% of Occidental, with regulatory approval to buy up to 50%.
Conversely, in the last quarter, Berkshire Hathaway sold 4.3 million shares of Chevron Corp. (NYSE: CVX). However, since the fourth quarter of 2022, Buffett has sold CVX stock on seven occasions, totaling 73.08 shares. &nbsp;
It&#39;s not&nbsp;surprising that Buffett likes&nbsp;<a href="https://www.marketbeat.com/stocks/sectors/oils-energy/" rel="noopener" target="_blank">energy stocks,</a> including oil stocks. According to the International Energy Agency (IEA), fossil fuel demand is expected to peak in 2030. That&#39;s a nod to the growth in renewable energy solutions, which&nbsp;are starting to grow at scale. &nbsp;
That would seem bearish for oil, but if you knew that notebook paper would be extinct in 10 years, you&#39;d probably be buying stock in any company that sold pens. That&#39;s the opportunity in oil. Plus, the reality is that even if oil demand peaks in 2030 (a big if), it won&#39;t be like flipping off a light switch. &nbsp;
Even if oil stock prices are cyclical, many of these companies pay a solid, growing dividend and perform regular share buybacks to increase shareholder value. Those are two things that align with Buffett&#39;s investment philosophy. &nbsp;
<h3>Why Buffett Likes OXY Stock</h3>
Warren Buffett has made no secret of his admiration for Occidental&#39;s CEO, Vicki Hollum. In 2019, the company acquired Anadarko for $55 billion, which created a significant level of debt. However, it has cut that debt by more than 50%, and the expectation of higher oil prices will allow the company to continue that effort. &nbsp;
The price of oil is another reason why Buffett likes Occidental. The company generates the bulk of its revenue from its upstream drilling business. That means when oil prices rise, Occidental will benefit more than a company like Chevron. &nbsp;
However, a key reason Buffett prefers OXY stock is an investment he made in the company before becoming a shareholder. Specifically, Berkshire delivered $10 billion to help Occidental win a bidding war with Chevron for Andarko. At that time, Occidental rewarded Berkshire with $10 billion in preferred stock, which has an 8% annual yield. Berkshire also owns warrants to purchase up to 80 million shares of OXY common stock. &nbsp;
<h3>The Straw Man Fallacy: Liking Occidental Doesn&#39;t Mean Hating Chevron</h3>
You&#39;ve likely seen it happen: someone says, &quot;I like pancakes,&quot; and the response is, &quot;So you hate waffles.&quot;
That&#39;s an example of a straw man argument where the original statement (liking pancakes) is oversimplified or exaggerated to mean they must hate waffles as if that was the only choice. &nbsp;&nbsp;
Investors should be careful not to create a straw man argument for Occidental Petroleum and against Chevron. Warren Buffett does, in fact, not hate Chevron. He started buying CVX stock around the same time he started buying OXY stock. However, looking at his buying and selling activity suggests that the CVX price (not the valuation) may have become too rich for Buffett. Chevron has also been tied up in a legal battle regarding its merger with Hess Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hes#NYSE">HES</a>), which won&#39;t be finalized until 2025.&nbsp;
In fact, Berkshire Hathaway owns approximately 6% of CVX stock, and it remains the fifth largest holding of Berkshire-Hathaway, just ahead of, you guessed it, Occidental Petroleum.&nbsp;
<h3>OXY Vs. Chevron: Which Stock Fits Your Investment Strategy?</h3>
In the final analysis, it&#39;s clear that Warren Buffett is still a fan of both Occidental Petroleum and Chevron. The combined companies account for approximately 10% of Berkshire Hathaway&#39;s entire portfolio. &nbsp;If you put the combined amount of the two companies&#39; stocks that Berkshire owns, only Apple Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) would carry more weight on a percentage basis. &nbsp;
However, at this time, for the reasons listed above, OXY is Buffett&#39;s preference. However, the right investment for you depends on your particular investment strategy. For example, if you&#39;re an income investor, it&#39;s important to note that Chevron pays a much more attractive dividend with a yield of 4.38%. And that dividend has been growing at an annualized annual rate of 5.38% over the last three years. That&#39;s nearly twice the rate of the current rate of inflation. &nbsp;
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/why-buffett-loves-occidental-stock-and-what-it-means-for-chevron/">Why Buffett Loves Occidental Stock And What It Means for Chevron</a>&quot; first appeared on MarketBeat.

BRK-B

Why Warren Buffett Loves Occidental Stock And What It Means For Chevron

Investors with a lot of money to spend have taken a bearish stance on Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
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.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 20 uncommon options trades for Occidental Petroleum.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 70%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $1,274,147, and 12 are calls, for a total amount of $1,230,220.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $67.5 for Occidental Petroleum during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Occidental Petroleum stands at 4763.57, with a total volume reaching 8,472.00. 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 $30.0 to $67.5, throughout the last 30 days.
<h3>Occidental Petroleum Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729269034_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$7.9</td>
<td>$6.35</td>
<td>$7.8</td>
<td>$55.00</td>
<td>$780.0K</td>
<td>5.9K</td>
<td>0</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.71</td>
<td>$1.69</td>
<td>$1.69</td>
<td>$55.00</td>
<td>$552.1K</td>
<td>15.2K</td>
<td>3.4K</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$6.85</td>
<td>$6.75</td>
<td>$6.85</td>
<td>$57.50</td>
<td>$205.5K</td>
<td>10.7K</td>
<td>301</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$3.6</td>
<td>$3.5</td>
<td>$3.5</td>
<td>$52.50</td>
<td>$175.1K</td>
<td>1.6K</td>
<td>501</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$7.25</td>
<td>$7.15</td>
<td>$7.22</td>
<td>$45.00</td>
<td>$101.0K</td>
<td>1.0K</td>
<td>141</td>
</tr>
</tbody>
</table>

<h3>About Occidental Petroleum</h3>
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.
<h3>Occidental Petroleum's Current Market Status</h3>
<ul>
<li>With a trading volume of 5,455,701, the price of OXY is down by 0.0%, reaching $51.72.</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 25 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Occidental Petroleum</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $62.4.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Barclays has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $58. 
&#x2A; An analyst from Susquehanna has decided to maintain their Positive rating on Occidental Petroleum, which currently sits at a price target of $77. 
&#x2A; Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Occidental Petroleum, targeting a price of $65. 
&#x2A; Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Occidental Petroleum with a target price of $56. 
&#x2A; Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Occidental Petroleum, targeting a price of $56. 
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.
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.

Occidental Petroleum's Options: A Look at What the Big Money is Thinking

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 $78 to $77.

Price Target

Analyst Ratings

Susquehanna Maintains Positive on Occidental Petroleum, Lowers Price Target to $77

B of A Securities analyst Jean Ann Salisbury reinstates Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and announces $57 price target.

Initiation

B of A Securities Reinstates Neutral on Occidental Petroleum, Announces $57 Price Target

Investors tend to watch and emulate some of the best on Wall Street, but there&#39;s one issue with this view: Most of the sought-after investors tend to be net buyers of the market. Other entities in the money management industry are worth watching for their superior strategies and ability to beat the market.
These entities are hedge funds, and without going into the specifics of their strategies and philosophies, all investors need to know is that they play both the long and the short side of the stock market. Investors can try to emulate these views and strategies by shorting as well as buying, or they can be flexible in being long a few names and have a short bias in others without actually shorting the stock.
Today, there are two stocks that are worth being bullish on, while one gives investors enough evidence to stay bearish on if not outright putting on a short position. These long targets are found in shares of Occidental Petroleum Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oxy#NYSE">OXY</a>) and Microsoft Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) as part of the energy sector&#39;s new cycle and the secular growth in technology names. Then, the stock to avoid, if not short altogether, is the struggling Dollar General Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dg#NYSE">DG</a>).
<h2>Sell Dollar General Before It&#39;s Too Late: Why Its Business Model Could Lead to More Sell-Offs</h2>
Stanley Druckenmiller has recently gone short on U.S. bonds. His view suggests there will be higher inflation for longer. This view stems from the fact that the prices of everyday items have risen significantly since COVID-19, and the probability of them contracting is nowhere to be expected.
If Druckenmiller is right, and inflation turns out to be stickier than expected, then business models like Dollar General&#39;s could suffer further losses in the coming quarters. Offering value at the scale this company does has no way of remaining competitive during high inflationary environments, as margins would contract so much that constant losses would be brought to the stock.
Some on Wall Street have already started to sound the alarm bells regarding Dollar General stock, particularly analysts at Citigroup as of September 2024. They recently downgraded Dollar General stock to a &quot;Sell&quot; rating, this time also dropping the price target to only $73 a share to call for a net downside of as much as 10% from today&#39;s price.
More than that, Druckenmiller&#39;s inflation warning seems to have drawn some short sellers into the stock recently, as the company&#39;s short interest grew by 3.7% over the past month alone to show more bearish interest. These weren&#39;t the only bearish players in the market; however, insiders were losing faith in their own stock.
As of September 2024, two executive vice presidents in Dollar General sold as much as $400,000 worth of stock jointly, which is never a good sign. Whether there is a new management plan to turn the business around or not, it seems the risk is not worth taking for Dollar General. If anything, the opportunity lies on the short side of the market.
<h2>Why a Buffett Bet on Occidental Is a Solid Investment Strategy for Investors</h2>
Copying Buffett&#39;s investments is nothing to be embarrassed about. In fact, investors can learn a great deal from reverse engineering his stock picks. Today, he seems to find all the opportunities within the energy sector, particularly in big oil like Occidental Petroleum.
Knowing that the recent interest rate cuts from the Federal Reserve (the Fed) will likely push business activity higher, Buffet is readying his capital to be exposed to the oil demand resulting from this trend. Here&#39;s where investors get an even better deal, though.
Buffett bought Occidental last quarter, and the stock has sold off significantly since then as oil is taking longer than expected to recover. Now that the stock trades at only 72% of its 52-week high, the foundation for reasonable upside is set for investors to consider this name.
In addition to that wide gap to the upside, Wall Street analysts like the stock. Leading the way with price targets, analysts at Mizuho and Susquehanna think Occidental stock should trade at a respective $72 and $78 a share, calling for up to 44% upside from today&#39;s stock price.
<h2>AI and Quantum Computing: Long-Term Trends Set to Push Microsoft Stock</h2>
Artificial intelligence is one of the trends that is here to stay, and investors should not ignore it in the coming years, particularly the companies that enable its progress and wide adoption rates. Quantum computing is another, and both are combined at Microsoft to create long-term tailwinds for the stock to go higher.
Some may argue that Microsoft&#39;s valuation is a bit rich today, but when investors compare today&#39;s price to tomorrow&#39;s expected earnings per share (EPS). Wall Street analysts now forecast up to $3.48 in EPS for the next 12 months, a jump of 18% from today&#39;s $2.95.
Double-digit growth is hard to come by when considering companies as big as Microsoft, and this superior growth rate commands a premium valuation. Knowing this is the case today for Microsoft, analysts at Truist Financial decided to boost their price targets on the stock to $600 a share, calling for as much as 42.8% upside.
Given that high valuations are always welcome with high EPS growth, even short sellers gave up the fight in shorting this &lsquo;expensive&#39; stock, as judged by Microsoft stock&#39;s 11.8% decline in its short interest over the past month.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/2-stocks-to-buy-and-1-to-sell-key-picks-for-smart-investing/">2 Stocks to Buy and 1 to Sell - Smart Moves for Investors</a>&quot; first appeared on MarketBeat.

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Shares of energy stocks are trading lower as oil prices fall after Israel reportedly indicated it could target military sites in Iran but not oil or nuclear targets.

Financial giants have made a conspicuous bullish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) revealed 24 unusual trades.
Delving into the details, we found 54% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $427,065, and 16 were calls, valued at $910,331.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $60.0 for Occidental Petroleum over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
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 $30.0 to $60.0, over the past month.
<h3>Occidental Petroleum 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728919843_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$8.15</td>
<td>$8.05</td>
<td>$8.05</td>
<td>$50.00</td>
<td>$176.3K</td>
<td>1.3K</td>
<td style="text-align: right;">221</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$3.65</td>
<td>$3.6</td>
<td>$3.65</td>
<td>$52.50</td>
<td>$102.5K</td>
<td>1.7K</td>
<td style="text-align: right;">301</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$4.25</td>
<td>$4.15</td>
<td>$4.25</td>
<td>$57.50</td>
<td>$98.1K</td>
<td>2.3K</td>
<td style="text-align: right;">233</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$6.7</td>
<td>$6.6</td>
<td>$6.6</td>
<td>$52.50</td>
<td>$91.0K</td>
<td>1.0K</td>
<td style="text-align: right;">140</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$3.2</td>
<td>$3.15</td>
<td>$3.2</td>
<td>$52.50</td>
<td>$89.9K</td>
<td>3.2K</td>
<td style="text-align: right;">305</td>
</tr>
</tbody>
</table>

<h3>About Occidental Petroleum</h3>
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.
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.
<h3>Where Is Occidental Petroleum Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 2,618,631, with OXY's price down by -1.07%, positioned at $54.17.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 29 days.</li>
</ul>
<h3>Expert Opinions on Occidental Petroleum</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $64.0.
Unusual Options Activity Detected: Smart Money on the Move
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">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $72. 
&#x2A; Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Occidental Petroleum with a target price of $65. 
&#x2A; An analyst from Goldman Sachs downgraded its action to Neutral with a price target of $55. 
&#x2A; An analyst from Scotiabank persists with their Sector Outperform rating on Occidental Petroleum, maintaining a target price of $65. 
&#x2A; An analyst from Evercore ISI Group has decided to maintain their Underperform rating on Occidental Petroleum, which currently sits at a price target of $63. 
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>.

Scotiabank analyst Paul Cheng maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Sector Outperform and lowers the price target from $80 to $65.

Scotiabank Maintains Sector Outperform on Occidental Petroleum, Lowers Price Target to $65

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Shares of energy companies are trading lower, pulling back after recently rising amid Middle East tensions. China stimulus uncertainty may also be impacting the demand outlook.

Shares of U.S. energy giants surged this week, marking the strongest performance in two years, as fears of a wider conflict in the Middle East between Iran and Israel drove oil prices <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities">to $75 per barrel. </a>
The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), which tracks 31 major U.S. energy companies, including giants like Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), recorded a remarkable 6.4% gain this week.
Investors poured nearly $300 million into the XLE ETF this week, the highest inflow since late July, according to Tradingview data.
Exxon Mobil, the largest U.S. oil company, reached a record high of $125 per share on Friday. The stock posted its sixth consecutive day of gains, ending the week up over 7%, marking its best performance since October 2022.
Oil prices continued their rally, with West Texas Intermediate (WTI) crude recording its fourth straight day of gains, hitting levels last seen in late August. The geopolitical tensions between Israel and Iran have sparked concerns over global oil supply disruptions.
<h3 class="wp-block-heading">Rising Middle East Tensions, Biden Calls For Measured Israeli Response</h3>
Israel promised a strong retaliation after Iran launched more than 180 ballistic missiles on Tuesday. While Israel&#8217;s air defense systems successfully intercepted most of the missiles, the attack further intensified the already heightened regional instability.
On Friday, President Joe Biden addressed the escalating crisis during a rare appearance at the White House daily press briefing. He mentioned Israel&#8217;s right to defend itself but said the country had not yet decided how it would respond to Iran&#8217;s ballistic missile strike.
Biden said he advised Israel against further escalating the conflict, suggesting that Israel might consider alternatives to targeting oil fields in its retaliation.
In his first public appearance since the attack, Iran's Supreme Leader Ayatollah Ali Khamenei defended the strike as &#8220;legitimate punishment&#8221; for what he called Israeli crimes and urged greater resistance against Israel in the region, Reuters reported.
Iran's deputy commander of the Islamic Revolutionary Guard Corps also issued a stark warning, stating that Iran could target Israeli oil refineries and gas fields if Israel chooses to strike Iranian territory.
<h3 class="wp-block-heading">This Week&#8217;s Top 10 Performing US Energy Stocks</h3>
U.S. energy stocks posted sharp gains, with the top performers this week including:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (5D)</td>
<td>Market Cap</td>
</tr>
<tr>
<td>Diamondback Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td>
<td>13.62%</td>
<td>$57.14B</td>
</tr>
<tr>
<td>APA Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>)</td>
<td>9.36%</td>
<td>$9.92B</td>
</tr>
<tr>
<td>The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>)</td>
<td>9.04%</td>
<td>$60.02B</td>
</tr>
<tr>
<td>Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</td>
<td>8.44%</td>
<td>$16.06B</td>
</tr>
<tr>
<td>Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)</td>
<td>8.35%</td>
<td>$51.71B</td>
</tr>
<tr>
<td>Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>)</td>
<td>8.25%</td>
<td>$27.38B</td>
</tr>
<tr>
<td>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</td>
<td>8.19%</td>
<td>$131.57B</td>
</tr>
<tr>
<td>EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>)</td>
<td>8.05%</td>
<td>$75.23B</td>
</tr>
<tr>
<td>Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</td>
<td>7.94%</td>
<td>$26.33B</td>
</tr>
<tr>
<td>Kinder Morgan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>)</td>
<td>7.82%</td>
<td>$52.15B</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41187740/blowout-september-jobs-report-spurs-reactions-6-economists-say-aggressive-fed-rat">&#8216;Blowout&#8217; September Jobs Report Spurs Reactions: 6 Economists Say Aggressive Fed Rate Cuts May Face Obstacles</a></li>
</ul>
Photo: Shutterstock

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US Energy Stocks Notch Biggest Weekly Gains In 2 Years, Exxon Hits Record Highs As Crude Surges To $75 On Israel-Iran Jitters

BMO Capital maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Market Perform and lowers the price target from $70 to $65.

BMO Capital Maintains Market Perform on Occidental Petroleum, Lowers Price Target to $65

The U.S. oil and gas exploration and production industry has faced headwinds related to falling natural gas prices and political uncertainty so far in 2024. Cash from operations across three dozen leading U.S. firms fell in real terms from the first quarter of 2023 to the first quarter of this year due to lower gas prices. The November election is also likely to play a significant role in shaping the industry&#39;s future.
At the same time, production cuts by OPEC+ have supported increased crude oil production among some U.S. firms, with companies like Antero Resources Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ar#NYSE">AR</a>) and Pembina Pipeline Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pba#NYSE">PBA</a>) benefiting from the shift. One area that has not experienced a wholesale production increase, though, is the Permian Basin of the southwestern U.S. West Texas&#39; Waha hub experienced negative trading for much of the summer, prompting some producers in the area to curtail production.
Permian Resources Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pr#NYSE">PR</a>) shares have slid by more than 22% in the last six months. Over the last year, the company&#39;s stock has significantly underperformed competitors like Antero and Pembina.
Nonetheless, Permian Resources has a history of cost management, successful M&amp;A activity, and strong earnings performance that may entice investors interested in buying while share prices are low.
<h2>Permian Resources: Keeping Costs Down, Earning Efficiently</h2>
Operating an oil and gas production company is costly, but Permian Resources does a good job of reducing these expenses whenever possible. Its total costs are below the industry average, thanks in part to its low lease operating expenses (LOE; the costs of maintaining a well after the initial expenses of drilling and completion) of $5.18 per barrel of oil equivalent (BOE).
Overall, the company reduced total controllable cash costs by 8% quarter-over-quarter for the most recent quarterly period&nbsp;to $7.45 per BOE. Permian is also finding ways to reduce costs on new drilling projects, which are down 13% relative to last year.
At the same time, total production increased by 6% from the first quarter of the year to the second. By bringing production up and minimizing costs, Permian Resources has contributed meaningfully to free cash flow growth. In the second quarter, the company generated $332 million in adjusted free cash flow, or $0.43 per share. Adjusted free cash flow per share is up an impressive 60% since the first quarter of 2023.
<h2>Permian&#39;s Strong M&amp;A Activity</h2>
In mid-September, Permian completed the acquisition of various leasehold and royalty interests, including midstream infrastructure, from Occidental Petroleum Corp.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oxy#NYSE">OXY</a>). This acquisition increased Permian&#39;s resource base by nearly 30,000 acres adjacent to its prior assets in Texas. The new interest is expected to generate roughly 15,000 BOE per day.
This acquisition is just the latest in a longer series of deals that analysts have viewed positively. Permian has successfully targeted key royalty and land interests for expansion, keeping costs down in the process.
<h2>Earnings Growth Potential</h2>
Permian has topped analyst expectations for earnings per share for each of the last three quarters. Analysts are optimistic about the potential for future growth as well: Permian enjoys a projected earnings growth rate of nearly 16%.
Fast-growing earnings have allowed Permian to boost its dividend to $0.15 from $0.06 in September and to initiate a $1-billion share buyback program. Permian executives have assured investors that the dividend is sustainable for more than two years, regardless of the price of oil at that time.
<h2>Permian Stock&#39;s Upside Opportunity</h2>
Given these factors, it&#39;s little surprise that analysts largely believe Permian Resources has the potential to reverse its recent downward trend and reclaim much of its lost share value. The average price target for PR shares is $19.20, representing upside potential of about 39%. Still, the unpredictability of the U.S. political climate going forward and the trajectory of oil prices may mean that investors will have to wait to realize this opportunity. Permian&#39;s stable history and impressive operations make it a good candidate for buy-and-hold investors interested in waiting for more favorable external conditions.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/opportunity-knocks-buy-the-dip-on-permian-resources-stock/">Opportunity Knocks: Buy the Dip on Permian Resources Stock?</a>&quot; first appeared on MarketBeat.

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Opportunity Knocks: Buy the Dip on Permian Resources Stock?

Barclays analyst Betty Jiang maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Equal-Weight and lowers the price target from $67 to $58.

Barclays Maintains Equal-Weight on Occidental Petroleum, Lowers Price Target to $58

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Occidental Petroleum is now down by 25% versus its year-to-date high.

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I evaluated two energy stocks in this piece: Occidental Petroleum ($OXY) and Exxon Mobil ($XOM). A closer look suggests a neutral view for Occident...

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Permian Resources: A Palatable Energy Play

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Press Releases

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

Global Carbon Dioxide Removal Market Size Expected to Reach $2.54 Billion By 2033 as Climate Change Concerns Grow

Occidental to Announce Third Quarter Results Tuesday, November 12, 2024; Hold Conference Call Wednesday, November 13, 2024

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