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Occidental Petroleum Corp Shares Cross 200 DMA

Occidental Petroleum Corp shares rose 3.88% to 24.38 on Tuesday. This proved to be an all-around positive trading session. The stock market, with the S&P 500 Index SPX rising 0.15% to 4,486.23 and the Dow Jones Industrial Average DJIA rising 0.09% to 35,366.26.

Occidental Petroleum Corp. closed $9.12 below its 52-week high ($33.50), which the company achieved on July 1st. The stock outperformed some of its competitors Tuesday, as Exxon Mobil Corp. XOM rose 0.82% to $55.36, Chevron Corp. CVX rose 1.15% to $97.84, and ConocoPhillips COP rose 1.13% to $55.41.

Occidental Petroleum Corp Trading volume (15.2 M) remained 1.7 million below its 50-day average volume of 16.9 M. This was the stock’s second consecutive day of gains. The petroleum firm is extending the work-from-home option through at least the end of October amid surging Covid-19 infections across the U.S. South.U.S.-based employees that need to go into offices must be vaccinated or take weekly virus tests, the company said in an email. Occidental is headquartered in Houston, and it also has large offices in The Woodlands, a suburb north of the city.

The company said based on public health data, and out of an abundance of caution, we have extended our work from home program for U.S. office-based employees at least through October. Offshore workers are subject to a robust testing protocol that requires non-vaccinated people to quarantine for additional days before flying out to platforms in the Gulf of Mexico. Occidental is offering vaccines at its heliports.

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