Occidental Petroleum (NYSE:OXY) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, January 4th, MarketBeat.com reports. They presently have a $80.00 price objective on the oil and gas producer’s stock. Bank of America’s price objective suggests a potential upside of 5.62% from the company’s previous close. The analysts noted that the move was a valuation call.

OXY has been the topic of several other research reports. Cowen restated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum in a research note on Thursday, September 28th. Mizuho restated a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a research note on Friday, November 3rd. Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Barclays upped their price target on Occidental Petroleum from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. Finally, Jefferies Group upped their price target on Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $70.07.

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Shares of Occidental Petroleum (NYSE:OXY) traded down $0.50 during trading hours on Thursday, hitting $75.74. The stock had a trading volume of 929,379 shares, compared to its average volume of 3,303,352. Occidental Petroleum has a 12-month low of $57.20 and a 12-month high of $78.09. The company has a market cap of $57,550.00, a price-to-earnings ratio of 105.93, a P/E/G ratio of 5.40 and a beta of 0.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) EPS. analysts forecast that Occidental Petroleum will post 0.84 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barometer Capital Management Inc. purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth $12,213,000. California Public Employees Retirement System boosted its stake in shares of Occidental Petroleum by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock worth $131,456,000 after buying an additional 64,533 shares during the last quarter. Swiss National Bank boosted its stake in shares of Occidental Petroleum by 0.9% in the 3rd quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock worth $185,698,000 after buying an additional 25,100 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth $3,792,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Occidental Petroleum by 178.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 58,489 shares of the oil and gas producer’s stock worth $3,502,000 after buying an additional 37,499 shares during the last quarter. Institutional investors and hedge funds own 80.25% of the company’s stock.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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