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Stock Market & Financial Investment News

News Breaks
April 30, 2013
10:31 EDTOXYOccidental Petroleum edges up after analyst applauds CEO plan
Occidental Petroleum's stock is advancing slightly after the company announced that its current CEO, Steve Chazen, would remain in the position through the end of 2014. WHAT'S NEW: Occidental announced that Chazen would remain in the top spot until the end of 2014. In February, Occidental had said that it was initiating a search for a replacement for Chazen. The company indicated that investors had pushed the company to retain Chazen as CEO for an extended period. Chazen was promoted to CEO from COO in 2010. ANALYST REACTION: In a note to investors, Deutsche Bank analyst Paul Sankey wrote that Occidental's decision was "very positive." Sankey upgraded the stock to Buy from Hold, as he believes that the move clears the way for the company to "shrink to grow," i.e. spin off businesses. Spinning off businesses would facilitate major share buybacks and makes sense in the current high oil price environment, the analyst wrote. Sankey increased his price target on the stock to $112 from $90. TODAY'S PRICE ACTION: In mid-morning trading, Occidental gained 0.6% to $88.40.
News For OXY From The Last 14 Days
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October 21, 2014
10:00 EDTOXYOn The Fly: Analyst Upgrade Summary
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08:29 EDTOXYOccidental Petroleum upgraded to Accumulate from Neutral at Global Hunter
Global Hunter upgraded Occidental to Accumulate based on favorable risk/reward, balance sheet strength, and ongoing asset monetization catalysts. Price target lowered to $105 from $110 based on based on a lower commodity price outlook.
06:41 EDTOXYOman Oil mulls purchase of Oxy sultanate assets, Reuters says
Oman Oil CEO Isam al-Zadjali said that the company has entered negotiations with Occidental Petroleum to purchase the U.S. company's assets in the Gulf Arab sultanate, but is still waiting to understand the terms of the possible deal, according to Reuters, citing comments from al-Zadjali. Reference Link
October 16, 2014
08:14 EDTOXYInternational E&P price targets lowered at Wells Fargo
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October 15, 2014
10:02 EDTOXYOn The Fly: Analyst Downgrade Summary
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06:39 EDTOXYOccidental Petroleum downgraded to Neutral from Outperform at Credit Suisse
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October 7, 2014
06:25 EDTOXYOccidental aims to sell North Dakota oil assets for $3B, Bloomberg says
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