OXY Drops on Employee Buyout Buzz

OXY has struggled with the massive losses taken by the oil sector

Deputy Editor
May 13, 2020 at 10:32 AM
facebook X logo linkedin

The shares of Occidental Petroleum Corp (NYSE:OXY) are down 4.5% at $13.91 at last check, following news that the company is offering their employees voluntary buyouts over the next two weeks -- citing issues and the massive decline in oil prices as a result of coronavirus. OXY posted a roughly $2 billion quarterly loss just last week and has had to slash capital spending fiercely in order to preserve cash. 

Not too far from its March 18, all-time low on $9, Occidental has been trading sideways of late, with overhead pressure recently emerging at the descending 50-day moving average. Though OXY is still clinging to a one-week gain, year-to-date, the stock is down 64.6%. 

The majority of analysts are bearish on OXY, with 18 calling the equity a "hold" or worse, and only one with a "strong buy" rating. Meanwhile, the 12-month consensus target price of $15.45 is an 11% premium to current levels.

In the options pits, puts have picked up in popularity. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 1.39 puts have been bought for every call in the past 10 days. This ratio sits in the 100th percentile of its annual range, suggesting the appetite for long puts hasn't been bigger in the last 12 months.  


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI