Occidental Petroleum downgraded to "hold"

12/23/03 - A.G. Edwards & Sons

NEW YORK, December 23 (New Ratings) - Analysts at AG Edwards downgrade Occidental Petroleum (OXY) from "buy" to "hold."

In a research note published yesterday, the analysts mention that the company’s share price has appreciated significantly since the beginning of this year. Occidental Petroleum’s current share price is now ahead of the target price, the analysts add. Although Occidental Petroleum is a market leader, AG Edwards expects the company's stock to trade in-line with that of its peers.