Occidental Is Trading Above 50-Day SMA: How to Play the Stock?

Key Takeaways OXY is trading above its 50-day SMA, boosted by Permian output and chemical unit sale.OXY plans to cut $6.5B in debt, while new Permian wells and global assets lift future production.OXY's cost savings initiatives aim for a cumulative cost reduction of $500 million in 2025.Occidental Petroleum Corporation (OXY) is trading above its 50-day simple moving average (“SMA”), signaling a bullish trend. The company is gaining from its focus on the Permian Basin and contributions from inorganic assets. ...