Price Target Update on Occidental Petroleum Corporation (NYSE:OXY)

Occidental Petroleum Corporation (NYSE:OXY) : 15 investment research analysts covering Occidental Petroleum Corporation (NYSE:OXY) have an average price target of $78.93 for the near short term. The highest target price given by the Brokerage Firm to the stock is $91 and the lowest target is $60 for the short term. Analysts expect the variance to be within $8.05 of the average price.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, Morgan Stanley downgrades its outlook on Occidental Petroleum Corporation (NYSE:OXY). The current rating of the shares is Equal-weight, according to the research report released by the firm. Previously, the company had a rating of Overweight. The rating by the firm was issued on June 13, 2016.

Occidental Petroleum Corporation (NYSE:OXY): stock turned positive on Thursday. Though the stock opened at $77.82, the bulls momentum made the stock top out at $78.31 level for the day. The stock recorded a low of $77.29 and closed the trading day at $78.31, in the green by 1.57%. The total traded volume for the day was 4,104,008. The stock had closed at $77.1 in the previous days trading.

The company shares have dropped -1.82% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $79.33 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $75.65 and the 200 Day Moving Average price is recorded at $70.38. On the companys insider trading activities,The director of Occidental Petroleum Corp /De/, Chazen Stephen I sold 5,000 shares at $74.57 on June 14, 2016. The Insider selling transaction had a total value worth of $372,850. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.