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Occidental Petroleum Corp. (NYSE:OXY) was downgraded by analysts at Howard Weil from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $106.00 price objective on the stock. Howard Weil’s price target indicates a potential upside of 10.94% from the stock’s previous close.

Occidental Petroleum Corp. (NYSE:OXY) traded down 0.24% on Wednesday, hitting $95.32. The stock had a trading volume of 824,598 shares. Occidental Petroleum Corp. has a one year low of $77.21 and a one year high of $99.42. The stock’s 50-day moving average is $94.17 and its 200-day moving average is $92.4. The company has a market cap of $76.834 billion and a price-to-earnings ratio of 16.79.

Occidental Petroleum Corp. (NYSE:OXY) last announced its earnings results on Tuesday, October 29th. The company reported $1.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.89 by $0.08. The company had revenue of $6.45 billion for the quarter, compared to the consensus estimate of $6.39 billion. During the same quarter last year, the company posted $1.70 earnings per share. Occidental Petroleum Corp.’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Occidental Petroleum Corp. will post $7.06 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on OXY. Analysts at TheStreet reiterated a “buy” rating on shares of Occidental Petroleum Corp. in a research note to investors on Sunday. Separately, analysts at Iberia Capital initiated coverage on shares of Occidental Petroleum Corp. in a research note to investors on Tuesday, December 31st. They set an “outperform” rating and a $105.00 price target on the stock. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $105.47.

Occidental Petroleum Corporation (NYSE:OXY) conducts its operations through various subsidiaries and affiliates.

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