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

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

A number of other analysts have also recently issued reports on OXY. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. Piper Sandler reduced their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Truist Financial increased their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Citigroup cut their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Finally, 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. Three 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $61.55.

Occidental Petroleum Trading Down 0.8 %

Occidental Petroleum stock opened at $48.50 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum has a 12 month low of $45.17 and a 12 month high of $71.18. The company’s fifty day simple moving average is $49.36 and its 200-day simple moving average is $51.19. The stock has a market cap of $45.52 billion, a P/E ratio of 19.88 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, sell-side analysts forecast that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the purchase, the insider now directly owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 6,854,394 shares of company stock worth $315,101,532 over the last three months. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently made changes to their positions in the business. Fortitude Family Office LLC raised its holdings in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Occidental Petroleum in the 4th quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth about $27,000. VSM Wealth Advisory LLC bought a new position in Occidental Petroleum during the 4th quarter valued at about $27,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum during the third quarter worth about $32,000. Institutional investors and hedge funds 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.