The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Occidental Petroleum Corp. shares valued at $697,125,000 were sold by OCCIDENTAL PETROLEUM CORP /DE/ on Aug 14 ’24. At $35.75 per share, OCCIDENTAL PETROLEUM CORP /DE/ sold 19,500,000 shares. The insider’s holdings dropped to 165,681,578 shares worth approximately $8.45 billion following the completion of this transaction.
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Also, OCCIDENTAL PETROLEUM CORP /DE/ sold 19,500,000 shares, netting a total of over 697,125,000 in proceeds. Following the sale of shares at $35.75 each, the insider now holds 165,681,578 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 $12.95 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 -5.12%. Over the course of the year, Occidental Petroleum Corp. shares have dropped approximately -14.60%. Shares of the company reached a 52-week high of $71.18 on 04/12/24 and a 52-week low of $49.90 on 09/11/24. A 50-day SMA is recorded $58.17, while a 200-day SMA reached $60.65. Nevertheless, trading volume fell to 11.88 million shares from 16.99 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 50.49, which, if violated, would cause prices to drop to 50.00. In the upper region, resistance lies at 51.48. The next price resistance is at 51.98. RSI (Relative Strength Index) is 24.33 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.52, which suggests the price will decrease in the coming days. Percent R is at 87.33%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
