Occidental Petroleum (OXY) Downgraded by Mizuho

Occidental Petroleum (NYSE:OXY) was downgraded by stock analysts at Mizuho from a “buy” rating to a “neutral” rating in a research note issued on Monday, The Fly reports.

A number of other brokerages also recently commented on OXY. Zacks Investment Research upgraded shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 5th. ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Barclays downgraded shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and lowered their target price for the stock from $77.00 to $70.00 in a research note on Friday, February 15th. Oppenheimer started coverage on shares of Occidental Petroleum in a research note on Wednesday, March 27th. They set a “market perform” rating for the company. Finally, Morgan Stanley set a $72.00 target price on shares of Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, February 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $83.80.

NYSE:OXY opened at $61.82 on Monday. The firm has a market capitalization of $46.23 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.34 and a quick ratio of 1.17. Occidental Petroleum has a 52 week low of $56.83 and a 52 week high of $87.67.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.10. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.39 billion. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, sell-side analysts anticipate that Occidental Petroleum will post 3.62 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Tortoise Capital Advisors L.L.C. lifted its position in Occidental Petroleum by 355.9% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 190,297 shares of the oil and gas producer’s stock valued at $15,637,000 after acquiring an additional 148,557 shares during the last quarter. IndexIQ Advisors LLC lifted its position in Occidental Petroleum by 67.4% in the third quarter. IndexIQ Advisors LLC now owns 8,424 shares of the oil and gas producer’s stock valued at $692,000 after acquiring an additional 3,391 shares during the last quarter. Glenmede Trust Co. NA lifted its position in Occidental Petroleum by 1.8% in the third quarter. Glenmede Trust Co. NA now owns 133,391 shares of the oil and gas producer’s stock valued at $10,960,000 after acquiring an additional 2,409 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in Occidental Petroleum in the third quarter valued at $6,329,000. Finally, Teachers Advisors LLC lifted its position in Occidental Petroleum by 3.6% in the third quarter. Teachers Advisors LLC now owns 2,394,444 shares of the oil and gas producer’s stock valued at $196,751,000 after acquiring an additional 83,529 shares during the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.

About Occidental Petroleum

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.

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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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