OXY Stock Recent News
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Occidental Petroleum (OXY) closed at $52.06 in the latest trading session, marking a +1.5% move from the prior day.
Zacks.com users have recently been watching Occidental (OXY) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Occidental Petroleum is getting some funding to help accelerate the development of its next carbon capture facility. The company has already started building and commercializing its first facility.
Dividend stocks have been something of an unsung hero for Warren Buffett's company. Nearly 174 million shares of Bank of America stock have been sold by Buffett since July 17, which means it's no longer Berkshire Hathaway's top income-generating holding.
Occidental Petroleum stock has weakened considerably as it lost the $55 support zone. The lack of recent purchases from Warren Buffett didn't help matters, as OXY's bullish thesis was threatened. Occidental's integration of CrownRock's assets will be scrutinized. Potential delays could impact near-term sentiments.
OXY trades at ~$51, with a target of $60, reflecting an 18% upside, anchored by Fibonacci resistance levels. An RSI of 27.46 signals oversold conditions, potentially undervaluing OXY; no immediate reversal is expected due to bearish sentiment. Occidental achieved record production in Q2 2024, with $1.3 billion in free cash flow before working capital adjustments.
HOUSTON, Sept. 12, 2024 (GLOBE NEWSWIRE) -- 1PointFive, a wholly owned subsidiary of Occidental, announced today that the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) will provide up to $500 million to support the development of the South Texas Direct Air Capture (DAC) Hub.
Occidental Petroleum (OXY) closed the most recent trading day at $50.66, moving -1.42% from the previous trading session.
Occidental Petroleum (NYSE: OXY) stock price is falling apart. It has crashed in the last four consecutive weeks, moving to its lowest level since April 2022.
Occidental (OXY) continues to reduce its debts and expand Permian operations. Yet, fluctuating commodity prices and lower ROIC than the industry are offsets.