The Shares of Occidental Petroleum Corp -2.77% shed 2.77% to $26.63 Monday. This proved to be an all-around poor trading session for the Stock market, with the S&P 500 Index SPX, -1.04% falling 1.04% to 4,188.43 and Dow Jones Industrial Average DJIA, -0.10% falling 0.10% to 34,742.82.
Occidental Petroleum Corp. closed $5.89 short of its 52-week high which the company reached on March 5th.The stock underperformed when compared to some of its competitors Monday, as Exxon Mobil Corp. XOM, +0.24% rose 0.24% to $62.58, Chevron Corp. CVX, -0.41% fell 0.41% to $109.57, and ConocoPhillips COP, -0.18% fell 0.18% to $57.00. Trading volume (19.1 M) eclipsed its 50-day average volume of 18.2 M.
Occidental Petroleum Corp belongs to the Zacks Oil and Gas Integrated with United States industry, posted revenues of $5.48 billion for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 11.28%. This compares to year-ago revenues of $6.45 billion. The company has topped consensus revenue estimates just once over the last four quarters.The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.Occidental shares have added about 58.2% since the beginning of the year versus the S&P 500’s gain of 12.7%.
Be First to Comment