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

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

OXY has been the topic of a number of other research reports. Stephens boosted their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI cut their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. Jefferies Financial Group lifted their target price on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Bank of America began coverage on Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target on the stock. Finally, Raymond James decreased their price objective on Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $63.65.

Occidental Petroleum Stock Performance

OXY traded down $0.41 during midday trading on Tuesday, reaching $50.50. The company’s stock had a trading volume of 8,030,892 shares, compared to its average volume of 9,384,176. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $51.75 and a 200 day simple moving average of $57.19. The stock has a market cap of $47.39 billion, a P/E ratio of 13.15 and a beta of 1.58. Occidental Petroleum has a twelve month low of $48.42 and a twelve month high of $71.18.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Earnest Partners LLC lifted its position in Occidental Petroleum by 2.6% during the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 173 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Occidental Petroleum by 2.0% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock worth $573,000 after purchasing an additional 175 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Occidental Petroleum by 0.6% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock valued at $1,735,000 after purchasing an additional 176 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of Occidental Petroleum by 1.0% in the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock valued at $1,109,000 after purchasing an additional 182 shares in the last quarter. Finally, Gateway Advisory LLC raised its position in Occidental Petroleum by 3.9% in the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after purchasing an additional 184 shares during the last quarter. 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.