Occidental Petroleum Corp.’s recently made public that its 10% Owner OCCIDENTAL PETROLEUM CORP /DE/ unloaded Company’s shares for reported $697.12 million on Aug 14 ’24. In the deal valued at $35.75 per share,19,500,000 shares were sold. As a result of this transaction, OCCIDENTAL PETROLEUM CORP /DE/ now holds 165,681,578 shares worth roughly $9.44 billion.
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Then, OCCIDENTAL PETROLEUM CORP /DE/ sold 19,500,000 shares, generating $697,125,000 in total proceeds. Upon selling the shares at $35.75, the 10% Owner now owns 165,681,578 shares.
Before that, BERKSHIRE HATHAWAY INC bought 1,552,497 shares. Occidental Petroleum Corp. shares valued at $92,789,485 were divested by the 10% Owner at a price of $59.77 per share. As a result of the transaction, BERKSHIRE HATHAWAY INC now holds 253,886,410 shares, worth roughly $14.47 billion.
A number of analysts have revised their coverage, including Truist’s analysts, who decreased its forecast for the stock in mid May from “a Buy” to “a Hold”. Scotiabank also remained covering OXY and has increased its forecast on April 11, 2024 with a “Sector outperform” recommendation from previously “Sector perform” rating. Barclays started covering the stock on April 10, 2024. It rated OXY as “an Equal weight”.
Price Performance Review of OXY
On Friday, Occidental Petroleum Corp. [NYSE:OXY] saw its stock fall -0.40% to $56.98. Over the last five days, the stock has lost -0.45%. Occidental Petroleum Corp. shares have fallen nearly -4.57% since the year began. Nevertheless, the stocks have fallen -9.02% over the past one year. While a 52-week high of $71.18 was reached on 04/12/24, a 52-week low of $55.04 was recorded on 08/05/24. SMA at 50 days reached $59.77, while 200 days put it at $60.98.
Levels Of Support And Resistance For OXY Stock
The 24-hour chart illustrates a support level at 56.53, which if violated will result in even more drops to 56.08. On the upside, there is a resistance level at 57.27. A further resistance level may holdings at 57.56. The Relative Strength Index (RSI) on the 14-day chart is 43.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.78%. Stochastics %K at 39.78% indicates the stock is a holding.
How much short interest is there in Occidental Petroleum Corp.?
A steep rise in short interest was recorded in Occidental Petroleum Corp. stocks on 2024-08-15, growing by 0.51 million shares to a total of 33.46 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 32.96 million shares. There was a rise of 1.51%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on April 08, 2024 when HSBC Securities began covering the stock and recommended ‘”a Hold”‘ rating along with a $65 price target.
