Analyst Rating Update on Occidental Petroleum Corporation (OXY)

Occidental Petroleum Corporation (OXY) : 8 brokerage houses believe that Occidental Petroleum Corporation (OXY) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 8 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Occidental Petroleum Corporation (OXY). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 18 Wall Street Analysts endorse the stock as a Buy with a rating of 2.17.

Occidental Petroleum Corporation (OXY) : 15 investment research analysts covering Occidental Petroleum Corporation (OXY) have an average price target of $79.2 for the near short term. The highest target price given by the Brokerage Firm to the stock is $91 and the lowest target is $61 for the short term. Analysts expect the variance to be within $8.08 of the average price.

For the current week, the company shares have a recommendation consensus of Buy. Also, Brokerage firm Barclays maintains its rating on Occidental Petroleum Corporation (NYSE:OXY). As per the latest information, the brokerage house raises the price target to $61 per share from a prior target of $60. The shares have been rated Underweight. The rating by the firm was issued on July 14, 2016.


Occidental Petroleum Corporation (NYSE:OXY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $73.53 and $72.33 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $74.41. The buying momentum continued till the end and the stock did not give up its gains. It closed at $74.38, notching a gain of 1.72% for the day. The total traded volume was 4,697,109 . The stock had closed at $73.12 on the previous day.

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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