Occidental Petroleum (OXY) is The Correct Call's 3rd pick of the week to beat.
We don’t believe we have to spend a whole lot of time writing about oil prices. The newspapers, radio stations and TVs do plenty to remind us of what’s happening there; lest we forget the weight of our wallets at the pump.
OXY reports before the market open on Thursday the 24th. Analysts have the consensus estimate at a $1.94; up from $1.67 to start the quarter. In fact, 11 of the 17 analysts have upped their estimate within the last 30 days.
Occidental has a history of rallying after its earnings release; we would not be surprised to see the stock in the $88 to $90 price range by mid May.
Aggressive investors might want to consider the August 90 Call Options trading near $4. If we have made The Correct Call, by May 16th:
a $85 share price puts the Call at roughly $5.50
at $87.50, the 90 Call would check in at $6.72
and @ $90, the Call offers the magic number of 100% profit potential.
