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Why Occidental Petroleum Retreated Today

TheMotleyFool 
0 0 06.05.26
Why Occidental Petroleum Retreated TodayPhoto, wide shot, wide-angle lens, Coal company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.midjourneyapi.xyz/temp/2a011bdc-adca-4de9-8457-d868b31178cf.png
 

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.

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Source Fool.com

Occidental Petroleum Corp. Stock

€48.73
0.150%
The Occidental Petroleum Corp. stock is trending slightly upwards today, with an increase of €0.075 (0.150%) compared to yesterday's price.
Currently there is a rather positive sentiment for Occidental Petroleum Corp. with 31 Buy predictions and 15 Sell predictions.
With a target price of 50 € there is a slightly positive potential of 2.62% for Occidental Petroleum Corp. compared to the current price of 48.73 €.
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