Among the biggest risers on the S&P 500 on Friday November 08 was Occidental Petroleum Corporation ($OXY), popping some 2.74% to a price of $40.10 a share with some 13.6 million shares trading hands.
Starting the day trading at $38.65, Occidental Petroleum Corporation reached an intraday high of $40.20 and hit intraday lows of $38.30. Shares gained $1.07 apiece by day’s end. Over the last 90 days, the stock’s average daily volume has been n/a of its 894.48 million share total float. Today’s action puts the stock’s 50-day SMA at $n/a and 200-day SMA at $n/a with a 52-week range of $38.47 to $74.29.
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2018, the company reported net proven reserves of 2.8 billion barrels of oil equivalent. Net production averaged 658 thousand barrels of oil equivalent per day in 2018, at a ratio of 77% oil and natural gas liquids and 23% natural gas.
Occidental Petroleum Corporation has its corporate headquarters located in Houston, TX and employs 11,000 people. Its market cap has now risen to $35.87 billion after today’s trading, its P/E ratio is now n/a, its P/S n/a, P/B n/a, and P/FCF n/a.
The Dow Jones Industrial Average (DJIA) is the most visible stock index in the United States, but that doesn’t make it the best. In fact, the industry standard for market watchers and institutional investors in gauging portfolio performance is the S&P 500.
The DJIA relies on just 30 stocks as a sample of large- and mega-cap firms, dwarfed by the 500 contained in the S&P 500, and it also weights its returns using an outdated and flawed price-weighting method. The S&P 500’s weighting is based on market cap, making it a much better representation of actual market performance for large- and mega-cap stocks.