Occidental Petroleum Stock Drops 3.34% on High Trading Volume Ranking 94th

On June 24, 2025, Occidental Petroleum (OXY) experienced a significant decline, with its stock price dropping by 3.34%, marking the second consecutive day of losses. The total trading volume for the day was 7.51 billion, placing it at the 94th position in terms of trading volume for the day.

Occidental Petroleum, commonly known as Oxy, presents a unique blend of risk and reward, making it an attractive investment option for some investors. The company's stock performance is closely tied to the price of oil, and any significant fluctuations in oil prices can have a substantial impact on its stock value.

Raymond James Financial recently downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating, while also lowering their price target for the stock. This change in rating reflects the firm's cautious outlook on the company's near-term prospects.

Geopolitical tensions in the Middle East, particularly the U.S. and Israel's joint military action against Iran's nuclear sites, have sent shockwaves through the energy markets. This development has led to a surge in oil prices, with both Brent and U.S. crude reaching five-month highs. However, the conflict has not yet caused any direct disruption to oil supply, and the impact on Occidental Petroleum's stock price remains to be seen.