What next as top S&P gainers Occidental and Mosaic Co. hit resistance?

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By:

Motiur Rahman

on
Apr 26, 2022

Occidental and Mosaic Co. stocks have outperformed S&P 500.

Both stocks are providing an edge again inflation.

Investors should look to buy lower.

Even as stocks faced weaknesses due to uncertainty, notable names proved a darling to the investors. Occidental Petroleum Corporation (NYSE:OXY) and Mosaic Company (NYSE:MOS) are some of those stocks. Year-to-date, Occidental has returned a massive 79%, compared to a negative 11% in the S&P 500 index. On the other hand, Mosaic Company has returned 58% year-to-date.

The robustness of Occidental and Mosaic makes them suitable for investors in the wake of macroeconomic uncertainty. For Occidental, operation in the booming oil and gas sectors has fueled stock gains. On the other hand, Mosaic ranks as the largest producer of American phosphate and potash fertilizer. Both companies operate in sectors which are relatively resilient to stagflation fears.


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On Wall Street, Occidental is rated with a buy, with a price target of $84, up from the current $55. On the other hand, Mosaic shares have been falling for the last five days after a downgrade at BNP Paribas. The stock has a neutral rating from the previous outperform. However, the stock target of $82 represents a potential upsurge of 34% from the current $61.

Occidental and Mosaic stocks are coming from previous highs

Source: TradingView

Technically, Occidental and Mosaic stocks are coming down after hitting their respective highs. Both stocks are robust, as indicated by their YTD returns and analysts’ ratings. With the current stagflation fears, investors should look to snap both stocks. However, they should wait to buy lower once the current bearish weakness abates.

Summary

Both Occidental and Mosaic stocks should be on investors’ waitlists. Both have yielded robust returns this year and could go higher. Investors should wait to buy lower.

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