Occidental Petroleum Surges 2.4% Today - Is There Still Upside?

Occidental Petroleum shares rose 2.4% this morning to a price of $69.25. The stock is still trading within range of its average target price of $66.63, and over the last 52 weeks, it has recorded a 8.1% performance. Analysts have given the Large-Cap Oil & Gas Drilling stock target prices ranging from $58.0 to $77.0 dollars per share, with an average rating of hold.

The stock has an above average percentage of its shares sold short at 10.8%, and a short ratio of 5.42. The company's insiders own 28.27% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 52.0% of Occidental Petroleum's shares being owned by this investor type.

Institutions Invested in Occidental Petroleum

Date Reported Holder Percentage Shares Value
2023-12-31 Berkshire Hathaway, Inc 27% 243,715,804 $16,877,319,427
2023-12-31 Dodge & Cox Inc 9% 80,992,508 $5,608,731,179
2023-12-31 Vanguard Group Inc 6% 56,822,431 $3,934,953,346
2023-12-31 Blackrock Inc. 5% 40,113,483 $2,777,858,697
2023-12-31 State Street Corporation 5% 40,115,159 $2,777,974,760
2023-12-31 FMR, LLC 2% 21,739,668 $1,505,472,009
2023-12-31 Bank Of New York Mellon Corporation 1% 12,660,967 $876,771,964
2023-12-31 Geode Capital Management, LLC 1% 12,571,844 $870,600,197
2023-12-31 Morgan Stanley 1% 9,302,707 $644,212,459
2023-12-31 Dimensional Fund Advisors LP 1% 7,391,465 $511,858,951

Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Occidental Petroleum.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.