Updated
Updated · MarketWatch · May 7Occidental Petroleum stock falls 2.14% in third straight daily loss
9 articles · Updated · MarketWatch · May 7
- Shares closed at $53.94 on Thursday as the S&P 500 fell 0.38% and the Dow Jones Industrial Average dropped 0.63% in a broad market sell-off.
- Occidental underperformed Chevron, down 1.44%, but fared better than EOG Resources, down 2.82%, and Devon Energy, down 2.77%.
- The stock finished 20.03% below its 52-week high of $67.45 reached on 31 March, while trading volume of 18.1 million topped its 50-day average.
After a major oil discovery, is Occidental's stock now a bargain or a value trap? Can Occidental's massive new oil find coexist with its ambitious carbon capture technology goals?