Occidental Petroleum (NYSE:OXY) Cut to "Neutral" at Bank of America

Jeannie Matthews
January 14, 2018

The institutional investor held 113,479 shares of the consumer non-durables company at the end of 2017Q3, valued at $12.65M, up from 62,432 at the end of the previous reported quarter. London Co Of Virginia who had been investing in Target Corp for a number of months, seems to be bullish on the $41.75B market cap company. The stock increased 0.43% or $0.5 during the last trading session, reaching $117.38.

Shares of Occidental Petroleum Corporation (NYSE:OXY) have received an average recommendation of "Hold" from the twenty-one ratings firms that are now covering the company, Marketbeat Ratings reports. Solis Tek Inc. (OTCMKTS:SLTK) has 0.00% since January 13, 2017 and is. It has underperformed by 20.60% the S&P500.

Artisan Partners Limited Partnership increased Occidental Pete Corp Del (OXY) stake by 6.06% reported in 2017Q3 SEC filing. Bailard Inc sold 5,087 shares as the company's stock declined 8.50% while stock markets rallied. Morgan Stanley owns 8.43 million shares for 0.16% of their portfolio. Jefferies Group set a $58.00 price objective on Occidental Petroleum and gave the stock a "hold" rating in a research report on Tuesday, August 29th. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer's stock valued at $105,000 after buying an additional 622 shares in the last quarter. About 377,885 shares traded or 126.61% up from the average.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, November 1st. It has underperformed by 16.70% the S&P500. Goldman Sachs has "Buy" rating and $60 target. Therefore 40% are positive.

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Among 15 analysts covering Liberty Global (NASDAQ:LBTYA), 12 have Buy rating, 0 Sell and 3 Hold. Credit Suisse Ag owns 0% invested in The Turkish Investment Fund, Inc. The firm earned "Neutral" rating on Thursday, August 4 by UBS. The rating was initiated by Credit Suisse on Monday, December 11 with "Hold". The rating was maintained by Maxim Group on Friday, September 23 with "Buy". RBC Capital Markets maintained the stock with "Sector Perform" rating in Thursday, October 29 report. Barclays Capital has "Underweight" rating and $61 target. On Tuesday, July 11 the stock rating was maintained by BMO Capital Markets with "Hold". Boston Private Wealth LLC now owns 369,309 shares of the company's stock worth $27,905,000 after buying an additional 21,903 shares in the last quarter. The firm has "Hold" rating given on Monday, November 6 by BMO Capital Markets.

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Following the sale, the chairman now owns 96,325 shares of the company's stock, valued at approximately $8,041,211. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

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Since January 1, 0001, it had 0 insider purchases, and 1 sale for $135,490 activity.

Investors sentiment decreased to 1.19 in 2017 Q3. Its up 0.19, from 0.75 in 2017Q2.

Hedge funds and other institutional investors have recently modified their holdings of the company. 4 funds opened positions while 4 raised stakes. 964.87 million shares or 1.00% less from 974.57 million shares in 2017Q2 were reported. Steinberg Glob Asset Mgmt reported 1.01% stake. The Connecticut-based Sasco Capital Inc Ct has invested 3.73% in the stock. Louisiana State Employees Retirement Sys accumulated 0.14% or 47,700 shares. Plante Moran Limited Com stated it has 1,834 shares or 0.07% of all its holdings. Moreover, Karpus Management Incorporated has 0.02% invested in The Turkish Investment Fund, Inc. Bancshares Of Montreal Can holds 0% or 782 shares in its portfolio. Ameriprise Fincl reported 120,171 shares. (NASDAQ:PEP) for 3,150 shares. Etrade Cap Mngmt Limited Company invested in 72,190 shares. Marshall Wace Llp sold 144,553 shares as Liberty Global (LBTYA)'s stock declined 18.04%. Cwm Ltd Liability Corporation, a Nebraska-based fund reported 452,145 shares. Cibc World Mkts holds 440,999 shares. California-based Ssi Invest has invested 0.04% in Pepsico, Inc. (NYSE:VNTV) for 642,904 shares.

Investors sentiment decreased to 0.89 in Q3 2017. Its down 0.06, from 0.95 in 2017Q2. It worsened, as 59 investors sold OXY shares while 338 reduced holdings. 7 funds opened positions while 25 raised stakes. 602.00 million shares or 0.86% less from 607.21 million shares in 2017Q2 were reported. Blair William And Il invested in 0.05% or 102,162 shares. 1,059 were reported by Arrow Fin Corp. Silvercrest Asset Management Group Llc owns 1.04 million shares or 0.91% of their U.S. portfolio. 9,374 were accumulated by Archford Capital Strategies Ltd Com. Citigroup accumulated 91,851 shares. Interocean Ltd Limited Liability Company reported 1.31% in Occidental Petroleum Corporation (NYSE:OXY). Dowling & Yahnke Limited Liability Corp has 0.19% invested in Occidental Petroleum Corporation (NYSE:OXY). Korea Corporation holds 0.06% or 193,592 shares. Amf Pensionsforsakring has invested 0.1% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY). Yakira Capital holds 249,714 shares or 0.78% of its portfolio. It also increased its holding in Disney Walt Co (NYSE:DIS) by 6,165 shares in the quarter, for a total of 66,443 shares, and has risen its stake in Select Sector Spdr Tr (XLE). Piper Jaffray maintained Occidental Petroleum Corporation (NYSE:OXY) rating on Tuesday, November 21. Therefore 19% are positive.

Occidental Petroleum Corp. had a negative return on equity of 3.43% and a negative net margin of 52.62%. On Monday, September 12 the stock rating was downgraded by JP Morgan to "Underweight". Moreover, Sandy Spring State Bank has 0.01% invested in Occidental Petroleum Corporation (NYSE:OXY). The rating was maintained by Oppenheimer on Wednesday, September 2 with "Outperform". The stock has "Hold" rating by BMO Capital Markets on Thursday, January 11. The company was maintained on Thursday, August 24 by Piper Jaffray. Piper Jaffray maintained the shares of OXY in report on Thursday, August 10 with "Hold" rating. The company was maintained on Wednesday, October 11 by Barclays Capital. Jefferies has "Hold" rating and $58.0 target. The firm has "Hold" rating given on Wednesday, December 20 by Jefferies. First Quadrant Ltd Partnership Ca has invested 0% in Occidental Petroleum Corporation (NYSE:OXY). During the same period in the previous year, the business earned ($0.15) EPS. equities analysts anticipate that Occidental Petroleum will post 0.77 earnings per share for the current fiscal year. They expect $-0.16 EPS, down 106.53% or $2.61 from last year's $2.45 per share. OXY's profit will be $229.57 million for 63.78 P/E if the $0.30 EPS becomes a reality. The company has a market capitalization of $54,255.90, a PE ratio of 202.57, a price-to-earnings-growth ratio of 14.12 and a beta of 0.65.

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