Are Occidental Petro (NYSE:OXY) Shares a Sell Now? Iberia Has Downgraded Stock

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Occidental Petro (NYSE:OXY) Receives a Downgrade

In an analyst note shared with investors on Thursday, 17 December, Iberia has decided to lowered rating on Occidental Petro (NYSE:OXY) shares to a “Sector Perform”. OXY’s prior rating was a “Outperform”.

From a total of 26 analysts covering Occidental Petroleum Corporation (NYSE:OXY) stock, 16 rate it a ”Buy”, 2 a “Sell”, and 9 a ”Hold”. This means that 59% of the ratings are positive. The highest target price is $95 while the lowest target price is $57. The mean of all analyst targets is $80.04 with a 20.69% above today’s ($66.06) stock price. Occidental Petroleum Corporation was the topic of 22 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Credit Agricole initiated shares on December 15 with “Buy” rating. RBC Capital Markets maintained OXY stock in a recent report from October 29 with “Sector Perform” rating. Finally, Oppenheimer maintained the stock with “Outperform” rating in a report issued on a September 2.

Approximately 1.88 million shares of stock traded hands. Occidental Petroleum Corporation (NYSE:OXY) has declined 9.73% since May 14, 2015 and is downtrending. It has underperformed by 7.46% the S&P500.

The overall sentiment of institutions has decreased to 0.89 in Q2 2015. Its down 0.03, from 0.92 in 2015Q2. The ratio worsened, as 100 institutions have sold all the shares of Occidental Petroleum Corporation that they owned while 383 funds have taken shares off the table. 85 funds have purchased shares for the first time while 347 added to their positions. These institutions now hold 564.38 million shares or 6.27% less than the 602.12 million shares they owned in 2015Q2.

The Fund Adams Asset Advisors Llc currently is holding shares equating to 51.55% of its total portfolio in Occidental Petroleum Corporation representing a total of 4.15 million shares. Another fund,Encompass Capital Advisors Llc, is holding a total of 786,161 shares equating to 9.66% of their holdings. Additionally, Arosa Capital Management Lp has a 665,700 share stake in Occidental Petroleum Corporation which represents 6.36% of their total portfolio. The Fund, Mitchell Group Inc, based out of Texas, has also built up a stake in the stock, which represents a total of 4.69% of their total portfolio. Finally Southport Management L.L.C., a fund which is based in the state of Wyoming reported a total holdings of 35,000 shares.

Occidental Petroleum Corporation is engaged in the gas and oil exploration and production. The company has a market cap of $52.18 billion. The Company, through its subsidiaries and affliates, operates in the United States, Middle East/North Africa and Latin America. It currently has negative earnings. Occidental operates through three divisions.

According to Zacks Investment Research, “Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental conducts its principal operations through its oil and gas and chemical subsidiaries.”

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