June 13, 2016

Morgan Stanley Downgraded Occidental Petroleum Co. (OXY)


Occidental Petroleum Co. (NYSE:OXY) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, The Fly reports.

A number of large investors have added to or reduced their stakes in the stock. Advantus Capital Management Inc increased its stake in Occidental Petroleum by 2.6% in the fourth quarter. Advantus Capital Management Inc now owns 73,507 shares of the company’s stock worth $4,970,000 after buying an additional 1,884 shares during the last quarter. Spirit of America Management acquired a new position in shares of Occidental Petroleum during the fourth quarter worth approximately $1,670,000. Factory Mutual Insurance Company acquired a new stake in Occidental Petroleum during the fourth quarter worth $18,255,000. Bank of Montreal Can increased its stake in Occidental Petroleum by 5.5% in the fourth quarter. Bank of Montreal Can now owns 762,251 shares of the company’s stock worth $51,537,000 after buying an additional 40,003 shares during the period. Finally, Janus Capital Management increased its stake in Occidental Petroleum by 290.5% in the third quarter. Janus Capital Management now owns 123,114 shares of the company’s stock worth $8,144,000 after buying an additional 91,587 shares during the period.