Occidental Petroleum (NYSE:OXY) Raised to Hold at StockNews.com

Occidental Petroleum (NYSE:OXY - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Several other research analysts also recently commented on OXY. Susquehanna cut their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating for the company in a report on Thursday, November 14th. Raymond James boosted their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 21st. Stephens reaffirmed an "overweight" rating and issued a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday. Citigroup dropped their price target on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating for the company in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $61.90.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $1.68 during midday trading on Wednesday, reaching $50.42. 13,869,302 shares of the company traded hands, compared to its average volume of 10,758,816. Occidental Petroleum has a 12 month low of $45.17 and a 12 month high of $71.18. The firm's fifty day moving average price is $49.20 and its two-hundred day moving average price is $51.41. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $47.31 billion, a price-to-earnings ratio of 20.66 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, equities analysts expect that Occidental Petroleum will post 3.56 earnings per share for the current year.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now directly owns 257,758,886 shares of the company's stock, valued at $11,921,348,477.50. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 6,854,394 shares of company stock worth $315,101,532 in the last ninety days. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds have recently modified their holdings of OXY. Fortitude Family Office LLC increased its position 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 acquiring an additional 304 shares during the period. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth $27,000. VSM Wealth Advisory LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth $27,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the third quarter worth $32,000. 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.