Movement Alert｜Occidental Rises 3.04% in Regular Trading, Goldman Sachs Upgrade and Higher Crude Prices Drive Gains

Market Focus10-08 23:02

On October 8, Occidental rose 3.04% in regular trading, trading at $59.97/share, with Turnover of $134 million.

The advance was driven by Goldman Sachs upgrading Occidental from Neutral to Buy and raising its price target from $63 to $69, alongside a broader rally in energy stocks as WTI crude rose 3% to $93.12 per barrel and Brent crude gained 4.5% to $102.44 per barrel.

Sentiment was further supported by Occidental's second-quarter results, which beat expectations with adjusted earnings per share of $2.40 versus the consensus estimate of $1.85, marking the highest quarterly profit since 2022.

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