The price of Occidental Petroleum stock (OXY) is has started correcting the recent price drop that had brought it down from a high of $60.96 on March 21 to a low of $56.64 on March 28. It has gained about 2.6% since March 28.
The current gains can be attributed to the recent developments between Russia and Ukraine following the recent signals from Russia to end the invasion.
To help stock investors interested in investing in Occidental Petroleum, Invezz has created a brief article on what it is and where to buy its stock.
To find out more, please continue reading.
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What is Occidental Petroleum stock?
Occidental Petroleum stock is the stock of Occidental Petroleum Corporation and it trades on the New York Stock Exchange using the ticker NYSE: OXY.
Occidental Petroleum Corporation is an American-based company that carries out hydrocarbon exploration in the United States, Colombia, and the Middle East. It also manufactures petrochemicals in Canada, the United States, and Chile.
Occidental Petroleum is headquartered in Houston.
Should I buy the OXY stock today?
If you want to invest in the stock of a petroleum mining company whose stock has been on an exponential rise year to date, then the OXY stock could be a good choice.
The situation in Eastern Europe is still very unpredictable amid reports that Russian troops are pulling out of key cities including Kyiv but leaving behind mines.
OXY stock price prediction
Going by its strong market sentiments, analysts expect the price of OXY stock to continue with its previous rally and possibly hit $60 before the end of April.
Occidental Petroleum social media coverage
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