Why Occidental Petroleum Retreated Today
Shares of Occidental Petroleum (NYSE: OXY) fell hard on Wednesday, down 6.7% as of 1:30 p.m. EDT.
The U.S.-centric oil and gas major reported earnings last night that, at first glance, were solid. However, the more consequential factor in today's price action was a report that Iran is seriously considering a U.S. proposal to end the war and reopen the Strait of Hormuz.
In the first quarter, Occidental delivered "mixed" results, with revenue falling 8.4% to $5.23 billion, missing expectations. On the other hand, the company's adjusted (non-GAAP) profits of $1.06 far exceeded expectations, beating the $0.59 consensus by a wide margin.
Source Fool.com
Occidental Petroleum Corp. Aktie
48,00 €
-0,43 %
Aktuell gibt es mit 29 Buy-Einschätzungen und 15 Sell-Einschätzungen ein positives Sentiment für die Occidental Petroleum Corp. Aktie.
Das Kursziel der Community von 48 € für Occidental Petroleum Corp. wurde mit dem aktuellen Kurs von 48.0 € erreicht.
