Smart Money Is Betting Big In OXY Options
Portfolio Pulse from Benzinga Insights
Smart money investors are showing a significant interest in Occidental Petroleum (NYSE:OXY) options, with an equal split between bullish and bearish sentiments. Benzinga's tracking revealed 14 unusual options activities, with a price target range from $55 to $85 over the next three months. The company, an independent oil and gas producer, reported net proved reserves of nearly 4 billion barrels and an average production of 1,234 thousand barrels per day in 2023. The current market status shows OXY's stock down by -0.66% at $68.1, with a potential overbought RSI. Analyst ratings over the past month suggest an average target price of $74.5, with varying recommendations from Neutral to Overweight.

April 10, 2024 | 5:15 pm
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NEUTRAL IMPACT
Occidental Petroleum sees a balanced mix of bullish and bearish options activity, with a significant trading volume and analyst target prices ranging from $69 to $84. The stock is currently down, with potential overbought signals.
The balanced bullish and bearish sentiment among smart money investors, combined with the current slight dip in stock price and the potential overbought RSI, suggests a neutral short-term impact. The wide range of analyst target prices indicates uncertainty about the stock's direction, making it difficult to predict a clear short-term price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100