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

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

A number of other equities analysts have also commented on OXY. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Raymond James upped their price target on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Evercore ISI cut their price objective 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. Susquehanna decreased their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Finally, Barclays reduced their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $62.10.

Occidental Petroleum Stock Up 0.7 %

Shares of NYSE OXY opened at $48.56 on Friday. The company has a 50 day simple moving average of $49.65 and a 200 day simple moving average of $54.54. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum has a 1 year low of $45.17 and a 1 year high of $71.18. The firm has a market cap of $45.57 billion, a PE ratio of 12.65 and a beta of 1.57.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This represents a 1.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Occidental Petroleum

Several institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC boosted its holdings in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $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 in the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. bought a new position in shares of Occidental Petroleum in the third quarter valued at approximately $50,000. Exchange Traded Concepts LLC purchased a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $87,000. Finally, Kennebec Savings Bank purchased a new position in Occidental Petroleum in the third quarter worth $93,000. 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.