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

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

Several other research firms also recently issued reports on OXY. Truist Financial boosted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Citigroup reduced their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Roth Capital set a $54.00 price target on Occidental Petroleum in a research note on Thursday, January 23rd. Finally, Wolfe Research upped their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $61.55.

Occidental Petroleum Stock Up 0.4 %

OXY stock opened at $48.85 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $45.85 billion, a PE ratio of 20.02 and a beta of 1.55. Occidental Petroleum has a 1-year low of $45.17 and a 1-year high of $71.18. The business’s 50 day simple moving average is $49.46 and its 200 day simple moving average is $51.11.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, research analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current year.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently bought and sold shares of OXY. Vanguard Group Inc. increased its holdings in Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock worth $3,365,992,000 after purchasing an additional 10,434,098 shares in the last quarter. Berkshire Hathaway Inc increased its holdings in Occidental Petroleum by 3.5% in the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock worth $13,053,055,000 after purchasing an additional 8,896,890 shares in the last quarter. H&H International Investment LLC increased its holdings in 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. Worldquant Millennium Advisors LLC increased its stake in shares of Occidental Petroleum by 1,075.3% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer’s stock valued at $95,400,000 after buying an additional 1,766,491 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Occidental Petroleum by 48.1% in the fourth quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer’s stock valued at $203,459,000 after buying an additional 1,337,728 shares during the period. Institutional investors and hedge funds 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.