Occidental Petroleum (NYSE: OXY) Upgraded to “Hold” by StockNews.com

Analyst Report Indicates Neutral Outlook

In a recent research note, StockNews.com upgraded Occidental Petroleum (NYSE:OXY) to “Hold” from “Sell.” The analyst cited the company’s strong balance sheet and recent acquisition of Anadarko Petroleum as key factors in the upgrade. However, the analyst also noted that the company’s exposure to the oil and gas industry could be a risk in the current economic environment.

Strong Balance Sheet and Acquisition of Anadarko Petroleum

Occidental Petroleum has a strong balance sheet with ample liquidity. The company has also recently acquired Anadarko Petroleum, which has significantly increased its oil and gas reserves. This acquisition has positioned Occidental Petroleum as one of the leading oil and gas producers in the United States.

Exposure to the Oil and Gas Industry

Occidental Petroleum’s exposure to the oil and gas industry could be a risk in the current economic environment. The price of oil has been declining in recent months, and this has negatively impacted the company’s financial performance. If the price of oil continues to decline, it could further impact Occidental Petroleum’s earnings and stock price.

Conclusion: Neutral Outlook

StockNews.com’s upgrade of Occidental Petroleum to “Hold” indicates a neutral outlook on the company. The analyst cites the company’s strong balance sheet and recent acquisition of Anadarko Petroleum as key factors in the upgrade. However, the analyst also notes that the company’s exposure to the oil and gas industry could be a risk in the current economic environment.