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

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

Several other brokerages have also weighed in on OXY. Barclays decreased their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Scotiabank reduced their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Raymond James boosted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Finally, Stephens boosted their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $48.91 on Tuesday. 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’s 50-day simple moving average is $49.63 and its 200-day simple moving average is $52.84. Occidental Petroleum has a twelve month low of $45.17 and a twelve month high of $71.18. The firm has a market cap of $45.89 billion, a P/E ratio of 12.74 and a beta of 1.57.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Occidental Petroleum

Large investors have recently bought and sold shares of the company. Fortitude Family Office LLC increased its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum in the third quarter valued at approximately $50,000. New Wave Wealth Advisors LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $68,000. 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.