Here's Why Occidental Petroleum (OXY) Shares Are Moving

Occidental Petroleum Corporation OXY shares are trading higher by 2.73% to $63.23 Tuesday. Strength is potentially in sympathy with BP plc BP and amid strength in crude oil futures for the session.

BP shares are trading higher after the company reported better-than-expected fourth-quarter sales results. The company also announced it's committed to allocating 60% of its 2023 surplus cash flow to share buybacks.

What Happened With BP Earnings?

Our Benzinga team on Tuesday recapped BP's fourth-quarter results. BP reported fourth-quarter revenue of $69.26 billion, which beat average analyst estimates of $53.79 billion. The company reported quarterly earnings of $1.59 per share, which missed average estimates of $1.67 per share...Read More

According to data from Benzinga Pro, OXY has a 52-week high of $77.13 and a 52-week low of $37.56.