Short Term Price Target on Occidental Petroleum Corporation (OXY)

Occidental Petroleum Corporation (NYSE:OXY) stock is expected to deviate a maximum of $8.05 from the average target price of $78.93 for the short term period. 15 Street Experts have initiated coverage on the stock with the most promising target being $91 and the most muted being $60.

Occidental Petroleum Corporation has dropped 3.51% in the last five trading days, however, the shares have posted positive gains of 1.15% in the last 4 weeks. Occidental Petroleum Corporation is up 11.88% in the last 3-month period. Year-to-Date the stock performance stands at 14.08%.

Occidental Petroleum Corporation (NYSE:OXY) has an average broker rating of 2.11, which is interpreted as a Buy, as rated by 18 equity analysts. Nonetheless, 9 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 8 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

Occidental Petroleum Corporation (NYSE:OXY): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $75.22 and $74.84 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $75.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $75.56, notching a gain of 0.63% for the day. The total traded volume was 3,779,265 . The stock had closed at $75.09 on the previous day.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Occidental Petroleum Corp /De/, Chazen Stephen I had sold 5,000 shares worth of $386,950 in a transaction dated June 21, 2016. In this transaction, 5,000 shares were sold at $77.39 per share.

Occidental Petroleum Corporation (Occidental) is engaged in the oil and gas exploration and production. The Company, through its subsidiaries and affliates, operates in the United States, Middle East/North Africa and Latin America. Occidental operates through three segments. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGL) and natural gas. The chemical (OxyChem) segment manufactures and markets basic chemicals and vinyls. The midstream, marketing and other segment (midstream and marketing) gathers, processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide (CO2) and power. It also trades around its assets, including transportation and storage capacity, and trades oil, NGLs, gas and other commodities.

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