Occidental Petroleum (NYSE:OXY) Downgraded by StockNews.com to “Sell”

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

Several other research analysts also recently weighed in on OXY. Bank of America initiated coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. Evercore ISI dropped their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Wolfe Research upped their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stephens upped their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given 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 a consensus price target of $62.65.

Occidental Petroleum Trading Down 0.1 %

OXY stock opened at $46.56 on Wednesday. Occidental Petroleum has a 1-year low of $45.79 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The company has a market capitalization of $43.69 billion, a price-to-earnings ratio of 12.13 and a beta of 1.57. The business has a 50 day simple moving average of $50.53 and a two-hundred day simple moving average of $55.26.

Institutional Trading of Occidental Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alternative Investment Advisors LLC. purchased a new stake in Occidental Petroleum in the third quarter worth $1,002,000. Retirement Systems of Alabama increased its stake in Occidental Petroleum by 1.8% in the third quarter. Retirement Systems of Alabama now owns 149,387 shares of the oil and gas producer’s stock worth $7,699,000 after purchasing an additional 2,700 shares during the period. Inspire Trust Co. N.A. increased its stake 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 worth $2,957,000 after purchasing an additional 6,700 shares during the period. Synovus Financial Corp increased its stake in Occidental Petroleum by 1,247.7% in the third 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. Finally, Tidal Investments LLC increased its stake in Occidental Petroleum by 67.9% in the third 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 period. 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.