Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Occidental Petroleum Corp. shares valued at $19,983,744 were purchased by BERKSHIRE HATHAWAY INC on Jun 17 ’24. At $59.75 per share, BERKSHIRE HATHAWAY INC acquired 334,461 shares. The insider’s holdings grew to 255,281,524 shares worth approximately $14.94 billion following the completion of this transaction.
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Also, BERKSHIRE HATHAWAY INC purchased 1,060,653 shares, netting a total of over 63,203,570 in proceeds. Following the buying of shares at $59.59 each, the insider now holds 254,947,063 shares.
Before that, BERKSHIRE HATHAWAY INC had added 1,552,497 shares to its account. In a trade valued at $92,789,485, the 10% Owner bought Occidental Petroleum Corp. shares for $59.77 each. Upon closing the transaction, the insider’s holdings increased to 1,552,497 shares, worth approximately $14.86 billion.
Analysts at Truist downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid May. As of April 11, 2024, Scotiabank has increased its “Sector perform” rating to a “Sector outperform” for OXY. Earlier on April 10, 2024, Barclays initiated its rating. Their recommendation was “an Equal weight” for OXY stock.
Analyzing OXY Stock Performance
During the last five days, there has been a drop of approximately -1.43%. Over the course of the year, Occidental Petroleum Corp. shares have dropped approximately -1.98%. Shares of the company reached a 52-week high of $71.18 on 04/12/24 and a 52-week low of $55.04 on 08/05/24. A 50-day SMA is recorded $60.86, while a 200-day SMA reached $61.36. Nevertheless, trading volume fell to 13.7 million shares from 9.89 million shares the previous day.
Support And Resistance Levels for Occidental Petroleum Corp. (OXY)
According to the 24-hour chart, there is a support level at 57.32, which, if violated, would cause prices to drop to 56.10. In the upper region, resistance lies at 59.53. The next price resistance is at 60.52. RSI (Relative Strength Index) is 42.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.22, which suggests the price will decrease in the coming days. Percent R is at 53.50%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
