Investors are Bearish on These 5 Stocks Today

2. Occidental Petroleum Corporation (NYSE:OXY) has sunk 8.06% as of 11:58 AM ET. The Houston, Texas-based crude oil and natural gas exploration and production (E&P) company is absorbing the impact of a decline in crude oil prices. The West Texas Intermediate (WTI) crude oil benchmark is down 5.44% as of 11:58 AM ET as a new round of COVID-related lockdowns raised concerns related to the demand for crude oil. In response to this development, the Saudi-state owned energy giant Aramco has slashed its oil export prices for the first time in the last four months. The price reduction has come after multiple rounds of price hikes since the start of the Russia and Ukraine conflict.

According to Insider Monkey’s proprietary data, 58 hedge funds held a stake in Occidental Petroleum Corporation (NYSE:OXY) as of Q4 2021, with a combined value of $3.87 billion. Fisher Asset Management was long over 843,000 shares of Occidental Petroleum Corporation (NYSE:OXY) in Q1 2022.