Occidental Petroleum (NYSE:OXY) Rating Lowered to Sell at StockNews.com

Occidental Petroleum (NYSE:OXY) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

Several other equities research analysts also recently weighed in on the company. BMO Capital Markets cut their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Citigroup reduced their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Jefferies Financial Group upped their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Bank of America initiated coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price for the company. Finally, UBS Group dropped their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Stock Down 0.1 %

OXY stock opened at $50.38 on Monday. The company has a market capitalization of $47.27 billion, a P/E ratio of 13.12 and a beta of 1.57. Occidental Petroleum has a 12 month low of $48.42 and a 12 month high of $71.18. The firm’s fifty day simple moving average is $51.56 and its 200-day simple moving average is $56.27. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds have recently modified their holdings of the company. Inspire Trust Co. N.A. lifted its holdings in Occidental Petroleum by 13.2% in the third quarter. Inspire Trust Co. N.A. now owns 57,365 shares of the oil and gas producer’s stock valued at $2,957,000 after acquiring an additional 6,700 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Occidental Petroleum by 1,247.7% during the 3rd quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer’s stock worth $2,602,000 after purchasing an additional 46,740 shares during the period. Tidal Investments LLC increased its position in shares of Occidental Petroleum by 67.9% during the 3rd quarter. Tidal Investments LLC now owns 80,025 shares of the oil and gas producer’s stock worth $4,124,000 after purchasing an additional 32,356 shares during the last quarter. Blankinship & Foster LLC purchased a new stake in Occidental Petroleum in the 3rd quarter valued at about $314,000. Finally, PVG Asset Management Corp purchased a new position in Occidental Petroleum during the third quarter worth about $411,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.