Occidental Petroleum shares rise, energy sector shows mixed results

Shares of Occidental Petroleum Corp. (NYSE:OXY) continued their upward trend on Monday, closing at $64.18. Despite this increase, the stock’s price remains below its year-high. The trading day saw an impressive volume of 16.8 million shares changing hands, surpassing the company’s average trading volume.

The energy sector had a mixed performance on Monday. Chevron Corp. (NYSE:NYSE:CVX) saw its shares rise by 2.77%, while EOG Resources Inc.’s (NYSE:NYSE:EOG) stocks soared by 5.44%. However, not all energy stocks experienced gains. Pioneer Natural Resources Co.’s (NYSE:NYSE:PXD) stocks declined by 0.76%.

While Occidental Petroleum Corp.’s shares are still trading below their year-high, Monday’s close marks another day of gains for the company. This continues a trend of increased trading volumes for the oil and gas company.

In contrast to Occidental’s positive performance, Pioneer Natural Resources Co. faced a minor setback with a 0.76% decline in its stock price. The energy sector overall displayed varied outcomes, reflecting the diverse results of individual companies within the industry.

Chevron Corp., another major player in the energy sector, experienced a significant boost on Monday with its shares rising by 2.77%. Similarly, EOG Resources Inc.’s stocks outperformed many of their peers, soaring by 5.44%.

The varied performance across the energy sector highlights the differing fortunes of these companies amid changing market conditions.

Source: https://www.investing.com/