Occidental Petroleum Corporation's Strategic Moves and Financial Overview

Core Viewpoint - Occidental Petroleum Corporation is undergoing a strategic shift by selling its chemical business, OxyChem, to Berkshire Hathaway for $9.7 billion, aiming to enhance shareholder value and improve its financial health [2][3][5] Financial Performance - The stock price of Occidental is currently at $45.84, reflecting a decrease of 3.95% or $1.89 [4][5] - The stock has fluctuated between a daily low of $45.57 and a high of $47.91 [4] - Over the past year, the stock reached a high of $56.49 and a low of $34.78 [4] - The company's market capitalization is approximately $45.12 billion, with a trading volume of 10.68 million shares [4] Strategic Moves - The sale of OxyChem is part of Occidental's broader strategy to manage its debt, which has been a concern for investors [3] - The cash from the OxyChem sale will be used strategically, potentially aiding in debt reduction and strengthening the company's financial position [2][3] - Roth Capital has maintained a Neutral rating on Occidental, with a revised price target of $46 [1][5]