UPDATE: Credit Suisse Downgrades Occidental Petroleum (OXY) to Neutral

(Updated - October 15, 2014 10:43 AM EDT)

Credit Suisse downgraded Occidental Petroleum (NYSE: OXY) from Outperform to Neutral.

Analyst Edward Westlak said, "The volatility in the space has created better opportunities (albeit riskier) in low cost shale rich E+P which have rocks in the "core of the core" of the key basins. We lower our target price from $115/share to $105/share."

For an analyst ratings summary and ratings history on Occidental Petroleum click here. For more ratings news on Occidental Petroleum click here.

Shares of Occidental Petroleum closed at $86.55 yesterday.

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