Occidental Petroleum Corp. Warrants (OXY.WS) surged 9.81% in pre-market trading on Thursday.
The oil-and-gas producer reported better-than-expected fourth-quarter adjusted earnings, providing a positive surprise to investors despite revenue declining year-over-year.
Adding to the bullish sentiment, Mizuho adjusted its price target on Occidental Petroleum upward to $67 from $64 while maintaining an Outperform rating, signaling confidence in the company's prospects.