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.
Source: American Banking and Market News