Morgan Stanley Downgrades Occidental Petroleum Corporation to Equal-weight

Brokerage firm Morgan Stanley Downgrades its rating on Occidental Petroleum Corporation(NYSE:OXY). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Jun 13, 2016.

In a different note, On May 9, 2016, JP Morgan said it Downgrades its rating on Occidental Petroleum Corporation. In the research note, the firm Raises the price-target to $74.00 per share. 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 0.67% or 0.5 points. Due to strong positive momentum, the stock ended at $74.95, which is also near the day’s high of $75.05. The stock began the session at $74.85 and the volume stood at 40,62,595 shares. The 52-week high of the shares is $79.717634 and the 52 week low is $58.216364. The company has a current market capitalization of $57,242 M and it has 76,37,41,500 shares in outstanding.

Occidental Petroleum Corporation(OXY) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.12B. Analysts had an estimated revenue of $2.35B. Earnings per share were $-0.56. Analysts had estimated an EPS of $-0.40.

Several Insider Transactions has been reported to the SEC. On Jun 9, 2016, Stephen I Chazen (director) sold 5,000 shares at $75.65 per share price.Also, On Aug 6, 2015, William R Klesse (director) purchased 10,000 shares at $69.48 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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