Brokerage Firm Rating Update on Occidental Petroleum Corporation (OXY)

Occidental Petroleum Corporation (OXY) : Zacks Investment Research ranks Occidental Petroleum Corporation (OXY) as 3, which is a Hold recommendation. 5 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 16 research analysts is 2.44, which indicates as a Buy.

Occidental Petroleum Corporation (OXY) : The most positive equity analysts on Occidental Petroleum Corporation (OXY) expects the shares to touch $91, whereas, the least positive believes that the stock will trade at $64 in the short term. The company is covered by 14 Wall Street Brokerage Firms. The average price target for shares are $78.79 with an expected fluctuation of $7.99 from the mean.


Company shares have received an average consensus rating of Hold for the current week Also, In a research note released to the investors, Deutsche Bank downgrades its rating on Occidental Petroleum Corporation (NYSE:OXY).The analysts at the brokerage house have a current rating of Hold on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on August 5, 2016.

Occidental Petroleum Corporation (NYSE:OXY): stock was range-bound between the intraday low of $76.95 and the intraday high of $77.755 after having opened at $77.4 on Wednesdays session. The stock finally closed in the red at $77.4, a loss of -0.14%. The stock remained in the red for the whole trading day. The total traded volume was 3,881,746 shares. The stock failed to cross $77.755 in Wednesdays trading. The stocks closing price on Thursday was $77.24.

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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