After this afternoon's -1.7% drop to $66.15 per share, Occidental Petroleum might just keep moving past its target price of $69.61. With an average analyst rating of buy, and target prices from $59.0 to $85.0, the stock's next move is anyone's guess.
Occidental Petroleum has an elevated short interest of 10.3%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 5.96. At 0.28%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. 79.6% of Occidental Petroleum shares are held by institutional investors, which indicates a high level of confidence in the stock.
Institutions Invested in Occidental Petroleum
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Berkshire Hathaway, Inc | 25% | 224,129,192 | $14,826,146,392 |
| 2023-06-30 | Dodge & Cox Inc | 10% | 91,303,640 | $6,039,735,925 |
| 2023-06-30 | Vanguard Group Inc | 7% | 60,045,128 | $3,971,985,308 |
| 2023-06-30 | State Street Corporation | 5% | 44,375,226 | $2,935,421,267 |
| 2023-06-30 | Blackrock Inc. | 5% | 42,287,647 | $2,797,327,913 |
| 2023-06-30 | FMR, LLC | 3% | 22,936,694 | $1,517,262,343 |
| 2023-06-30 | Geode Capital Management, LLC | 1% | 13,090,043 | $865,906,364 |
| 2023-06-30 | Bank Of New York Mellon Corporation | 1% | 9,687,278 | $640,813,454 |
| 2023-06-30 | Morgan Stanley | 1% | 8,943,664 | $591,623,387 |
| 2023-06-30 | Northern Trust Corporation | 1% | 7,963,142 | $526,761,855 |
For these reasons, we consider that the Occidental Petroleum is the subject of mixed market sentiment.
