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

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

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets dropped their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Raymond James increased their price target on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Barclays dropped their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Evercore ISI reduced their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Two investment 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.25.

Occidental Petroleum Trading Down 0.3 %

OXY traded down $0.15 during trading on Monday, reaching $50.43. The company had a trading volume of 8,005,749 shares, compared to its average volume of 9,353,308. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The business has a 50 day simple moving average of $51.64 and a 200-day simple moving average of $56.45. The stock has a market cap of $47.32 billion, a P/E ratio of 13.13 and a beta of 1.58. Occidental Petroleum has a 52 week low of $48.42 and a 52 week high of $71.18.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after acquiring an additional 444,850 shares during the last quarter. H&H International Investment LLC lifted its holdings in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after purchasing an additional 98,703 shares in the last quarter. American Century Companies Inc. grew its stake in Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares during the last quarter. Finally, Swiss National Bank increased its position in Occidental Petroleum by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after buying an additional 5,200 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Company Profile

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.