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

Occidental Petroleum (NYSE:OXY - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Tuesday.

A number of other analysts also recently commented on OXY. UBS Group dropped their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Monday. Wells Fargo & Company decreased their price target on Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating for the company in a research report on Friday, September 27th. JPMorgan Chase & Co. restated a "neutral" rating and set a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. Stephens boosted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Finally, Wolfe Research raised their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and an average target price of $63.65.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $0.41 during trading hours on Tuesday, hitting $50.50. The stock had a trading volume of 8,030,892 shares, compared to its average volume of 9,384,176. Occidental Petroleum has a 1-year low of $48.42 and a 1-year high of $71.18. The stock's fifty day simple moving average is $51.75 and its 200 day simple moving average is $57.19. 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 firm has a market capitalization of $47.39 billion, a price-to-earnings ratio of 13.15 and a beta of 1.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TCW Group Inc. increased its position in Occidental Petroleum by 30.0% during the third quarter. TCW Group Inc. now owns 101,365 shares of the oil and gas producer's stock worth $5,224,000 after buying an additional 23,366 shares during the last quarter. Empire Financial Management Company LLC boosted its stake in shares of Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer's stock worth $329,000 after acquiring an additional 250 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Occidental Petroleum by 30.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,576 shares of the oil and gas producer's stock valued at $596,000 after acquiring an additional 2,697 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock worth $710,886,000 after purchasing an additional 444,850 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Occidental Petroleum by 35.6% during the third quarter. M&T Bank Corp now owns 50,428 shares of the oil and gas producer's stock worth $2,599,000 after purchasing an additional 13,245 shares during the period. 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.

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