Stock Traders Purchase High Volume of Occidental Petroleum Call Options (NYSE:OXY)

Stock Traders Purchase High Volume of Occidental Petroleum Call Options (NYSE:OXY)

Occidental Petroleum Corporation (NYSE:OXY - Get Free Report) was the recipient of some unusual options trading on Friday. Investors bought 138,539 call options on the company. This is an increase of approximately 71% compared to the average daily volume of 80,978 call options.

Occidental Petroleum Stock Swings After $74 Target Boost as Oil Whiplash Tests Rally

Stephens raised its price target on Occidental Petroleum to $74, above the consensus, as shares fell 4.26% to $62.23 Wednesday amid a broader energy selloff. Oil prices rebounded Thursday after President Trump vowed continued attacks on Iran, pushing Brent and U.S. crude above $109. Occidental will report first-quarter results May 5, following recent debt reduction and a dividend hike after its $9.7 billion OxyChem sale. The post Occidental Petr…