Several brokerages have updated their recommendations and price targets on shares of Occidental Petroleum (NYSE: OXY) in the last few weeks:

  • 1/17/2016 – Occidental Petroleum was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “The highly competitive oil and gas space and volatility in commodity prices remain the primary concerns for Occidental Petroleum. Operational interruptions and delays and stringent environmental regulations are the other headwinds. The company’s third-quarter earnings beat the Zacks Consensus Estimate but declined year over year due to soft commodity prices. Revenues missed estimates and plunged on a year-over-year basis. However, the company’s efforts to focus on its core oil and gas operations have resulted in strong production growth from Permian basin resources. The Al Hosn gas project will also help the company to counter the low price environment. “
  • 1/12/2016 – Occidental Petroleum was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating. They now have a $69.00 price target on the stock, down previously from $84.00.
  • 1/7/2016 – Occidental Petroleum had its price target lowered by analysts at Deutsche Bank from $85.00 to $79.00. They now have a “buy” rating on the stock.
  • 1/6/2016 – Occidental Petroleum was downgraded by analysts at TheStreet from a “hold” rating to a “sell” rating.
  • 12/17/2015 – Occidental Petroleum was downgraded by analysts at Iberia Capital from an “outperform” rating to a “sector perform” rating. They now have a $80.00 price target on the stock.
  • 12/15/2015 – Occidental Petroleum had its “buy” rating reaffirmed by analysts at CLSA.
  • 12/15/2015 – Occidental Petroleum is now covered by analysts at Credit Agricole. They set a “buy” rating on the stock.
  • 12/15/2015 – Occidental Petroleum had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $80.00 price target on the stock, down previously from $81.00.
  • 12/8/2015 – Occidental Petroleum had its price target raised by analysts at Barclays from $56.00 to $64.00. They now have an “underweight” rating on the stock.
  • 12/3/2015 – Occidental Petroleum had its “buy” rating reaffirmed by analysts at Argus. They now have a $93.00 price target on the stock, down previously from $103.00.
  • 12/2/2015 – Occidental Petroleum had its “buy” rating reaffirmed by analysts at Deutsche Bank.

Shares of Occidental Petroleum Co. (NYSE:OXY) traded down 1.13% during trading on Monday, reaching $63.08. 1,388,523 shares of the company were exchanged. The firm’s market capitalization is $48.18 billion. Occidental Petroleum Co. has a 1-year low of $58.24 and a 1-year high of $83.74. The company’s 50-day moving average is $65.86 and its 200 day moving average is $70.12.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. During the same period last year, the company earned $1.58 earnings per share. The firm earned $3.25 million during the quarter, compared to analysts’ expectations of $3.20 billion. The business’s revenue for the quarter was down 36.5% compared to the same quarter last year. Equities research analysts expect that Occidental Petroleum Co. will post $0.20 EPS for the current fiscal year.

In related news, CEO Stephen I. Chazen sold 5,000 shares of the stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $67.97, for a total value of $339,850.00. Following the sale, the chief executive officer now directly owns 1,941,761 shares of the company’s stock, valued at approximately $131,981,495.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Occidental Petroleum Corporation (NYSE:OXY) is engaged in the oil and gas exploration and production. The Company, through its subsidiaries and affliates, operates in the United States, Middle East/North Africa and Latin America. Occidental operates through three segments. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGL) and natural gas. The chemical (OxyChem) segment manufactures and markets basic chemicals and vinyls. The midstream, marketing and other segment (midstream and marketing) gathers, processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide (CO2) and power. It also trades around its assets, including transportation and storage capacity, and trades oil, NGLs, gas and other commodities.

12 Month Chart for NYSE:OXY

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