Occidental (OXY) Offering Possible 34.41% Return Over the Next 20 Calendar Days

Occidental's most recent trend suggests a bearish bias. One trading opportunity on Occidental is a Bear Call Spread using a strike $52.00 short call and a strike $57.00 long call offers a potential 34.41% return on risk over the next 20 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $52.00 by expiration. The full premium credit of $1.28 would be kept by the premium seller. The risk of $3.72 would be incurred if the stock rose above the $57.00 long call strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Occidental is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Occidental is bullish.

The RSI indicator is at 63.92 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Occidental

Carl Icahn Wins ISS Support for Initial Step to Shake Up Occidental
Thu, 25 Jul 2019 17:57:29 +0000
(Bloomberg) — Carl Icahn’s effort to revamp Occidental Petroleum Corp.’s board got a boost from a prominent shareholder advisory firm Thursday.Institutional Shareholder Services Inc. urged the oil explorer’s investors to support Icahn’s initial steps in his push to replace four directors. Doing so would also allow shareholders to have a voice on how the company handled its $38 billion agreement to buy Anadarko Petroleum Corp.Occidental has argued that Icahn’s proposals divert attention at a pivotal point in the company’s history. While that’s a fair point, it’s equally important for shareholders to determine whether “this is a board that has adopted a parental ’I know best’ attitude,” ISS said.Icahn said in an interview Thursday he has been “extremely encouraged” by the number of shareholders who have spoken out about their concerns over the way the company has acted since he went public with his campaign. He said he was “very pleased” with the ISS report.“The company has made statements that I am disruptive in the boardroom,” he said. “I believe my own record over the past 30 years completely proves the fact that this another disingenuous statement by the company.”He has consistently delivered strong results by holding executives and boards accountable when they have shown an inability to manage, he said.Icahn is seeking to replace Occidental Chairman Eugene Batchelder and three other directors over concerns about the Anadarko deal not being subject to a shareholder vote. He also doesn’t like the $10 billion in financing the company has agreed to take from Warren Buffett’s Berkshire Hathaway Inc. to help finance the largest oil industry deal in four years.Right now, Occidental’s bylaws make it difficult for Icahn to rally enough support from shareholders to call a special meeting to even consider his proposals. So he’s taking a different approach.The first step in that process: getting 20% of shareholders to ask Occidental’s board to set a record date for determining which investors would be allowed to vote on the matter. ISS supports that — though the advisory firm said that doesn’t imply that it supports Icahn’s nominees or proposed changes at this point.If Icahn wins the necessary support, he said he would seek to replace the directors through written consent.Occidental said it disagreed with ISS’s recommendation to support the first step and only later focus on whether Icahn’s proposal would harm or further shareholder interests.“Having acknowledged that the Icahn Group’s solicitation would divert management and board attention away from the very thing that is critical to long-term shareholder value – a successful integration of Anadarko – we believe that ISS’ logic in supporting this first step is flawed,” the company said in an emailed statement. It noted that the board had unanimously decided that setting the record date was not in the best interest of shareholders.ISS also said in its report that the level of investor opposition to the reelection of Occidental’s directors in May is evidence of substantial frustration with the board that should be addressed.“The fact that shareholders are seemingly being prevented from opining on a transformational and controversial transaction, along with the self-evident complexity of the consent solicitation process, suggests that a more open and thorough debate regarding Occidental’s strategic direction and overall governance would be beneficial,” it said.(Updates with company comment in paragraph 11.)\–With assistance from Kevin Crowley.To contact the reporter on this story: Scott Deveau in New York at sdeveau2@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Simon CaseyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

TOTAL (TOT) Q2 Earnings Miss Estimates, Revenues Drop Y/Y
Thu, 25 Jul 2019 15:25:03 +0000
TOTAL's (TOT) second-quarter earnings are affected by softness in commodity prices. Nonetheless, start-ups boost production of the company.

UPDATE 1-ISS urges Occidental investors to press management for special meeting
Thu, 25 Jul 2019 14:07:38 +0000
Proxy advisory firm Institutional Shareholder Services on Thursday urged Occidental Petroleum shareholders to ask management to let them weigh in on board and governance issues as it buys rival Anadarko Petroleum Corp.. The request comes one week after the takeover deal's biggest critic, billionaire investor Carl Icahn, laid out plans to shake up Occidental's board. ISS issued a research note on Thursday recommending that shareholders provide consent for the request to fix a record date, a first step in a cumbersome process that could eventually lead to the calling of a special meeting.

ISS urges Occidental shareholders to provide consent to fix record date
Thu, 25 Jul 2019 12:50:21 +0000

Earnings Preview: Occidental Petroleum (OXY) Q2 Earnings Expected to Decline
Wed, 24 Jul 2019 14:32:02 +0000
Occidental (OXY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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