Occidental Petroleum (NYSE:OXY) Stock Rating Lowered by Wall Street Zen

Occidental Petroleum (NYSE:OXY) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

A number of other analysts have also recently weighed in on OXY. HSBC dropped their price objective on shares of Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Piper Sandler dropped their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. Susquehanna boosted their price objective on Occidental Petroleum from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, November 13th. Scotiabank raised their target price on Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company reduced their price target on Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.55.

Occidental Petroleum Stock Performance

Shares of OXY opened at $42.73 on Friday. The firm has a market cap of $42.10 billion, a price-to-earnings ratio of 31.42 and a beta of 0.38. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $41.31 and its two-hundred day moving average is $43.36. Occidental Petroleum has a 52-week low of $34.78 and a 52-week high of $53.20.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter last year, the company posted $1.00 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts forecast that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William R. Klesse bought 5,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was bought at an average price of $38.98 per share, with a total value of $194,900.00. Following the purchase, the director directly owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This represents a 2.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new position in shares of Occidental Petroleum in the second quarter valued at approximately $27,000. City Holding Co. boosted its holdings in shares of Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 500 shares during the period. Binnacle Investments Inc acquired a new position in Occidental Petroleum in the 3rd quarter valued at $35,000. GoalVest Advisory LLC bought a new position in Occidental Petroleum in the 3rd quarter worth $38,000. Finally, Hantz Financial Services Inc. lifted its position in Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 788 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.