Occidental Petroleum (NYSE:OXY) was downgraded by stock analysts at Wells Fargo & Co to a “market perform” rating in a research report issued on Monday, The Fly reports.

OXY has been the subject of a number of other reports. Zacks Investment Research cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. KeyCorp cut shares of Occidental Petroleum from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, April 24th. Morgan Stanley set a $72.00 price objective on shares of Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, February 14th. Barclays cut shares of 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 report on Friday, February 15th. Finally, Mizuho cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $83.00 to $70.00 in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $75.01.

NYSE:OXY traded up $0.70 on Monday, reaching $53.46. The stock had a trading volume of 9,403,100 shares, compared to its average volume of 7,072,542. 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 cap of $39.46 billion, a P/E ratio of 10.67, a PEG ratio of 2.72 and a beta of 0.76. Occidental Petroleum has a 12-month low of $52.62 and a 12-month high of $87.67.

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

Several hedge funds have recently modified their holdings of OXY. Shelton Capital Management lifted its holdings in Occidental Petroleum by 1.8% in the fourth quarter. Shelton Capital Management now owns 8,646 shares of the oil and gas producer’s stock worth $531,000 after acquiring an additional 152 shares during the last quarter. Taylor Hoffman Wealth Management lifted its holdings in Occidental Petroleum by 2.3% in the fourth quarter. Taylor Hoffman Wealth Management now owns 6,647 shares of the oil and gas producer’s stock worth $412,000 after acquiring an additional 152 shares during the last quarter. Nachman Norwood & Parrott Inc lifted its holdings in Occidental Petroleum by 0.6% in the first quarter. Nachman Norwood & Parrott Inc now owns 25,427 shares of the oil and gas producer’s stock worth $1,683,000 after acquiring an additional 160 shares during the last quarter. Essex Savings Bank lifted its holdings in Occidental Petroleum by 16.8% in the first quarter. Essex Savings Bank now owns 1,216 shares of the oil and gas producer’s stock worth $80,000 after acquiring an additional 175 shares during the last quarter. Finally, OLD Second National Bank of Aurora lifted its holdings in Occidental Petroleum by 0.3% in the first quarter. OLD Second National Bank of Aurora now owns 54,908 shares of the oil and gas producer’s stock worth $3,635,000 after acquiring an additional 178 shares during the last quarter. 84.05% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

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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