Barclays Maintains Occidental Petroleum Corporation to Underweight with Price Target $61.00

Brokerage firm Barclays Maintains its rating on Occidental Petroleum Corporation(NYSE:OXY). In a research note issued to the investors, the brokerage major Raises the price-target to $61.00 per share. The shares have been rated Underweight. The rating by Barclays was issued on Jul 14, 2016.

In a different note, On Jul 7, 2016, Raymond James said it Downgrades its rating on Occidental Petroleum Corporation. The shares have been rated ‘Outperform’ by the firm. On Jun 13, 2016, Morgan Stanley said it Downgrades its rating on Occidental Petroleum Corporation. The shares have been rated ‘Equal-weight’ by the firm. On May 9, 2016, JP Morgan said it Downgrades its rating on Occidental Petroleum Corporation. In the research note, the firm Raises the price-target to $74.00 per share. The shares have been rated ‘Neutral’ by the firm.

Occidental Petroleum Corporation (OXY) shares turned negative on Mondays trading session with the shares closing down -0.55 points or -0.71% at a volume of 27,79,439. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $77.13. The peak price level was also seen at $77.13 while the days lowest was $76.53. Finally the shares closed at $76.77. The 52-week high of the shares is $78.31 while the 52-week low is $58.216364. According to the latest information available, the market cap of the company is $58,632 M.

Occidental Petroleum Corporation(OXY) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.12B. Analysts had an estimated revenue of $2.35B. Earnings per share were $-0.56. Analysts had estimated an EPS of $-0.40.

Several Insider Transactions has been reported to the SEC. On Jul 7, 2016, Stephen I Chazen (director) sold 5,000 shares at $75.33 per share price.Also, On Aug 6, 2015, William R Klesse (director) purchased 10,000 shares at $69.48 per share price.On Jun 19, 2015, John E Feick (director) sold 10,000 shares at $79.07 per share price, according to the Form-4 filing with the securities and exchange commission.

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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