Mizuho Downgrades Occidental Petroleum Corporation to Neutral with Price Target $70

Brokerage firm Mizuho Downgrades its rating on Occidental Petroleum Corporation(OXY). As per the latest information, Mizuho Lowers the price target to $70 per share from a prior target of $87. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by the stock financial advisor at Mizuho was issued on Feb 13, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 11, 2017, BMO Capital said it Downgrades its rating on Occidental Petroleum Corporation. The shares have been rated ‘Market Perform’ by the firm. On Dec 16, 2016, Goldman Sachs said it Upgrades its rating on Occidental Petroleum Corporation. The shares have been rated ‘Neutral’ by the firm.

Occidental Petroleum Corporation (OXY) shares turned negative on Wednesdays trading session with the shares closing down -1.07 points or -1.60% at a volume of 51,77,711. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $66.955. The peak price level was also seen at $66.955 while the days lowest was $65.88. Finally the shares closed at $65.91. The 52-week high of the shares is $78.48 while the 52-week low is $64.37. According to the latest information available, the market cap of the company is $50,368 M.

Occidental Petroleum Corporation(OXY) last announced its earnings results on Feb 9, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $2.788B. Analysts had an estimated revenue of $2.700B. Earnings per share were $-0.13. Analysts had estimated an EPS of $-0.02.

Several Insider Transactions has been reported to the SEC. On Feb 9, 2017, Stephen I Chazen (director) sold 4,000 shares at $67.45 per share price.Also, On Dec 27, 2016, William R Klesse (director) purchased 10,000 shares at $72.15 per share price.On Jun 19, 2015, John E Feick (director) sold 10,000 shares at $79.07 per share price, according to the Form-4 filing with the securities and exchange commission.

Occidental Petroleum Corporation (Occidental) 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.

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