Bank of America Upgrades Occidental Petroleum Corporation to Buy

Brokerage firm Bank of America Upgrades its rating on Occidental Petroleum Corporation(OXY). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at Bank of America was issued on Mar 15, 2017 in a research report to their Investors and Clients.

In a different note, On Mar 14, 2017, Credit Suisse said it Upgrades its rating on Occidental Petroleum Corporation. The shares have been rated ‘Outperform’ by the firm. On Feb 13, 2017, Mizuho said it Downgrades its rating on Occidental Petroleum Corporation. According to the research note, Mizuho Lowers the price target to $70 per share from a prior target of $87. The shares have been rated ‘Neutral’ by the firm. 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) made into the market gainers list on Fridays trading session with the shares advancing 0.42% or 0.27 points. Due to strong positive momentum, the stock ended at $64.09, which is also near the day’s high of $64.3399. The stock began the session at $63.99 and the volume stood at 75,53,837 shares. The 52-week high of the shares is $78.48 and the 52 week low is $61.01. The company has a current market capitalization of $48,983 M and it has 76,42,91,300 shares in outstanding.

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 Mar 14, 2017, Vicki A. Hollub (CEO) purchased 15,000 shares at $62.72 per share price.Also, On Mar 9, 2017, Stephen I Chazen (director) sold 4,000 shares at $62.97 per share price.On Dec 27, 2016, William R Klesse (director) purchased 10,000 shares at $72.15 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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