Occidental Petroleum (NYSE:OXY) Stock Rating Lowered by StockNews.com

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

OXY has been the topic of several other research reports. Wells Fargo & Company cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Susquehanna cut their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. UBS Group decreased their target price on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Wolfe Research raised their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, BMO Capital Markets cut their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, twelve have assigned 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.com, the stock currently has an average rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Stock Performance

OXY stock traded down $0.15 during midday trading on Monday, reaching $50.43. The stock had a trading volume of 8,005,749 shares, compared to its average volume of 9,353,308. The firm has a fifty day simple moving average of $51.64 and a two-hundred day simple moving average of $56.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The stock has a market cap of $47.32 billion, a PE 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

Hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC increased its holdings in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth about $50,000. Strategic Financial Concepts LLC acquired a new position in Occidental Petroleum in the second quarter valued at about $53,000. Finally, LRI Investments LLC boosted its stake in Occidental Petroleum by 34.6% during the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after buying an additional 233 shares during the period. 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.