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OXY

Occidental Petroleum

$45.00

-2.12 (-4.50%)

07:03
08/13/19
08/13
07:03
08/13/19
07:03

Occidental reinstated with an Underweight from Neutral at JPMorgan

JPMorgan analyst Phil Gresh reinstated coverage of Occidental Petroleum following a period of restriction and downgraded the shares to Underweight from Neutral with a price target of $50, down from $74. Despite the 33% stock price decline since before the Anadarko deal was announced, Occidental's total return potential of 15% is roughly half that of the peer group, Gresh tells investors in a research note. The company's estimated 2021 free cash flow to enterprise value yield of 5.2% at $60 per barrel Brent is still not compelling enough to compensate investors for its elevated dividend as a percentage of free cash flow, says the analyst.

  • 27

    Aug

OXY Occidental Petroleum
$45.00

-2.12 (-4.50%)

08/05/19
RBCM
08/05/19
NO CHANGE
Target $28
RBCM
Outperform
Western Midstream price target lowered to $28 from $40 at RBC Capital
RBC Capital analyst Elvira Scotto lowered her price target on Western Midstream (WES) to $28 after its Q2 earnings miss and lowered FY19 guidance. The analyst also notes that the stock no longer warrants a premium given the likely "change in sponsor", assuming the Occidental Petroleum (OXY) acquisition of Western Midstream's parent Anadarko (APC) closes as expected. Scotto is keeping her Outperform rating on the stock however, given some longer term visibility on performance after Western Midstream's deal with DCP Midstream (DCP) in the DJ Basin.
08/12/19
EVER
08/12/19
DOWNGRADE
EVER
In Line
Occidental Petroleum downgraded to In Line from Outperform at Evercore ISI
08/12/19
EVER
08/12/19
DOWNGRADE
EVER
In Line
Occidental acquisition of Anadarko 'destroyed value,' Evercore says in downgrade
Evercore ISI analyst Doug Terreson downgraded Occidental Petroleum to In-Line from Outperform without a price target after resuming coverage of the name. The company's "pledge" for greater capital discipline and enhanced corporate governance "proved fleeting" with the significant decline in return on capital employed due to the Anadarko acquisition, Terreson tells investors in a research note. The purchase of Anadarko makes Occidental larger but "significantly less valuable," contends the analyst. He says the deal "destroyed value" and is 30% dilutive to return on capital employed. As such, Terreson finds Occidental shares fairly valued at current levels.
08/12/19
08/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. NetEase (NTES) downgraded to Neutral from Buy at Goldman Sachs with analyst Bill Liu citing the company's Q2 revenues miss, mainly on soft online games growth. 2. Occidental Petroleum (OXY) downgraded to In Line from Outperform at Evercore ISI with analyst Doug Terreson saying the company's "pledge" for greater capital discipline and enhanced corporate governance "proved fleeting" with the significant decline in return on capital employed due to the Anadarko acquisition. 3. Adesto Technologies (IOTS) downgraded to Market Perform from Outperform at Northland with analyst Gus Richard saying the company has $34M of high interest debt and needs $10M to pay an earnout by year end, but he thinks the company is holding off on an offering until it reports a "strong" third quarter that will be boosted by an airpod win at Apple (AAPL). 4. Bluebird Bio (BLUE) downgraded to Market Perform from Outperform at William Blair with analyst Raju Prasad saying he's taking a conservative view on the company's transition from a development-stage company to a commercial-stage company. 5. Cemex (CX) downgraded to Market Perform from Outperform at BBVA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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MYGN

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  • 13

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CSCO

Cisco

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0.73 (1.58%)

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RDS.A

Royal Dutch Shell

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0.47 (0.85%)

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BP

BP

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CVX

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TGT

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Walmart

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AEO

American Eagle

$15.40

0.63 (4.27%)

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ANGI

Angi Homeservices

$8.18

-0.18 (-2.15%)

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Match Group

$84.53

2.08 (2.52%)

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IAC

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AAPL

Apple

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RM

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RTN

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WEN

Wendy's

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  • 13

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BRY

Berry Petroleum

$8.59

0.39 (4.76%)

17:54
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CSWI

CSW Industrials

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OAS

Oasis Petroleum

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EE

El Paso Electric

$66.41

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HON

Honeywell

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MBRX

Moleculin Biotech

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VIVE

Viveve

$0.13

0.0046 (3.59%)

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PRGO

Perrigo

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0.535 (1.17%)

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  • 01

    Oct

UAL

United Continental

$82.96

1.36 (1.67%)

17:28
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  • 04

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MBIO

Mustang Bio

$3.88

0.19 (5.15%)

17:26
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  • 04

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BCLI

BrainStorm

$3.63

0.055 (1.54%)

17:24
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WLK

Westlake Chemical

$61.27

0.66 (1.09%)

17:15
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Westlake Chemical raises quarterly dividend by 5% to 26.25c per share »

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