Occidental Petroleum (NYSE:OXY) was downgraded by equities research analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

Several other equities analysts have also recently issued reports on the company. KeyCorp decreased their price objective on Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Atlantic Securities cut Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price objective for the company. in a research note on Thursday, April 25th. ValuEngine cut Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 30th. Barclays cut Occidental Petroleum from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $77.00 to $70.00 in a research note on Friday, February 15th. Finally, Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $75.01.

Shares of OXY opened at $53.51 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.23 and a quick ratio of 1.03. The stock has a market capitalization of $39.46 billion, a PE ratio of 10.68, a P/E/G ratio of 2.72 and a beta of 0.76. Occidental Petroleum has a 1 year low of $52.62 and a 1 year high of $87.67.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. As a group, sell-side analysts expect that Occidental Petroleum will post 3.89 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of OXY. Vanguard Group Inc raised its position in shares of Occidental Petroleum by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock worth $5,133,793,000 after acquiring an additional 1,370,841 shares in the last quarter. BKD Wealth Advisors LLC increased its position in Occidental Petroleum by 39.4% during the fourth quarter. BKD Wealth Advisors LLC now owns 3,916 shares of the oil and gas producer’s stock worth $240,000 after buying an additional 1,107 shares during the period. Tompkins Financial Corp increased its position in Occidental Petroleum by 3.2% during the fourth quarter. Tompkins Financial Corp now owns 37,342 shares of the oil and gas producer’s stock worth $2,292,000 after buying an additional 1,145 shares during the period. Bank of Montreal Can increased its position in Occidental Petroleum by 9.4% during the fourth quarter. Bank of Montreal Can now owns 1,374,009 shares of the oil and gas producer’s stock worth $84,336,000 after buying an additional 118,253 shares during the period. Finally, James Investment Research Inc. acquired a new position in Occidental Petroleum during the fourth quarter worth approximately $1,025,000. 84.05% of the stock is currently owned by institutional investors and hedge funds.

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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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