Occidental Petroleum (NYSE:OXY) Upgraded by StockNews.com to “Hold” Rating

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

Other analysts have also recently issued research reports about the stock. UBS Group cut their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Scotiabank cut their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. TD Cowen decreased their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Barclays cut their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Bank of America assumed coverage on Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.10.

Occidental Petroleum Trading Up 0.5 %

OXY opened at $50.76 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum has a one year low of $45.17 and a one year high of $71.18. The company has a market cap of $47.63 billion, a P/E ratio of 13.22 and a beta of 1.57. The business’s 50-day simple moving average is $49.44 and its 200-day simple moving average is $54.08.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC boosted its stake in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum during the third quarter worth $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum during the third quarter worth $50,000. Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum in the third quarter valued at $87,000. Finally, Kennebec Savings Bank purchased a new position in shares of Occidental Petroleum in the third quarter valued at $93,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.