Based in Houston, Occidental Petroleum is engaged in oil and gas exploration and production.
China's stocks tumbled again today, fueling investors' concerns that the world's second-largest oil consumer will be unable to contribute to demand for the oversupplied commodity.
"The focus is still on China and the demand concerns in China moving forward into 2016," Tony Headrick, an energy market analyst at CHS Hedging, told Reuters.
Crude oil (WTI) is plummeting by 6.15% to $31.12 per barrel and Brent crude is diving by 6.86% to $31.25 per barrel this afternoon, according to the CNBC.com index.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate OCCIDENTAL PETROLEUM CORP as a Sell with a ratings score of D+. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.