I believe when it keeps breaking below 86 the buyers keep coming in because of the dividend yield .Hang on to this stock because if and when (soon) this Stock will take off above 100 to 110 maybe has high as 140 due to their spinning off some of their middle eastern holdings. I live in Texas and there holdings in the west are huge, also California .Good luck. Stay long .Buy more If you can, Especially in the 84-85 range.
I think the reason for the slide is mainly due to delayed spin off plan (Spill off or selling part of business will be later part of year) at the last conference call. Therefore shorts are taking advantage low volume and news on the delayed spin off plan. I think WTI at $105-110, OXY is making ton of money. We need to hold on to it until next earning.
Danderous to short when you know that something is coming. I hope that what ever they do it is announced all at once and catch the shorts in a huge short squeeze. A $10 jump in one day aught to do the trick.