Occidental Petroleum Corporation (OXY): Today's Featured Basic Materials Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Occidental Petroleum Corporation ( OXY) pushed the Basic Materials sector higher today making it today's featured basic materials winner. The sector as a whole was unchanged today. By the end of trading, Occidental Petroleum Corporation rose $1.09 (1.3%) to $85.80 on average volume. Throughout the day, 5.7 million shares of Occidental Petroleum Corporation exchanged hands as compared to its average daily volume of 4.6 million shares. The stock ranged in a price between $85.10-$86.30 after having opened the day at $85.27 as compared to the previous trading day's close of $84.71. Other companies within the Basic Materials sector that increased today were: China Shen Zhou Mining & Resources ( SHZ), up 17%, Entree Gold ( EGI), up 9.1%, Global Geophysical Services ( GGS), up 8.7%, and Georgia Gulf ( GGC), up 8.1%.
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Occidental Petroleum Corporation engages in the exploration and production of oil and gas properties in the United States and internationally. The company operates in three segments: Oil and Gas; Chemical; and Midstream, Marketing, and Other. Occidental Petroleum Corporation has a market cap of $68.63 billion and is part of the energy industry. The company has a P/E ratio of 14.8, below the S&P 500 P/E ratio of 17.7. Shares are up 10.6% year to date as of the close of trading on Friday. Currently there are 11 analysts that rate Occidental Petroleum Corporation a buy, no analysts rate it a sell, and eight rate it a hold.

TheStreet Ratings rates Occidental Petroleum Corporation as a buy. Among the primary strengths of the company is its revenue growth. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, GMX Resources ( GMXR), down 33.7%, China Precision Steel ( CPSL), down 20%, BMB Munai ( BMBM), down 19.6%, and Pacific Booker Minerals ( PBM), down 14.9%, were all laggards within the basic materials sector with Southern Copper Corporation ( SCCO) being today's basic materials sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider Materials Select Sector SPDR ( XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd ( SBM).

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