Occidental Petroleum (NYSE:OXY) Downgraded to Sell Rating by The Goldman Sachs Group

Occidental Petroleum (NYSE:OXY - Get Free Report) was downgraded by equities research analysts at The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a research note issued on Friday, MarketBeat reports. They presently have a $45.00 price target on the oil and gas producer's stock, down from their previous price target of $54.00. The Goldman Sachs Group's price objective would suggest a potential downside of 5.46% from the company's current price.

OXY has been the topic of a number of other reports. Wolfe Research raised their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Truist Financial raised their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Raymond James upped their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the company a "strong-buy" rating in a research note on Thursday, November 21st. Susquehanna decreased their target price on 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, UBS Group dropped their price target on Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating on the stock in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus price target of $61.71.

Occidental Petroleum Stock Up 2.6 %

Shares of OXY stock traded up $1.23 during trading hours on Friday, reaching $47.60. The company had a trading volume of 8,938,755 shares, compared to its average volume of 9,962,670. The business has a fifty day simple moving average of $49.35 and a 200-day simple moving average of $52.41. Occidental Petroleum has a 12 month low of $45.17 and a 12 month high of $71.18. The company has a market cap of $44.66 billion, a price-to-earnings ratio of 12.40 and a beta of 1.55. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the transaction, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 3.3% in 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 period. H&H International Investment LLC boosted its position in shares of Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock worth $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Occidental Petroleum by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer's stock valued at $206,560,000 after acquiring an additional 98,703 shares in the last quarter. Scharf Investments LLC lifted its stake in shares of Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer's stock worth $121,600,000 after buying an additional 805,525 shares in the last quarter. Finally, Swiss National Bank boosted its stake 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 purchasing an additional 5,200 shares during the last quarter. 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.