Occidental Petroleum Corporation (OXY) : Analyst Rating Update

Occidental Petroleum Corporation (OXY) : Zacks Investment Research ranks Occidental Petroleum Corporation (OXY) as 3, which is a Hold recommendation. 9 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 8 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 18 research analysts is 2.11, which indicates as a Buy.

Occidental Petroleum Corporation (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 (NYSE:OXY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $75.22 and $74.68 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $75.56. The buying momentum continued till the end and the stock did not give up its gains. It closed at $75.45, notching a gain of 0.31% for the day. The total traded volume was 3,358,286 . The stock had closed at $75.22 on the previous day.

Also, Equity analysts at the Brokerage firm Morgan Stanley downgrades its rating on Occidental Petroleum Corporation (NYSE:OXY). The rating major has initiated the coverage with equal-weight rating on the shares. Earlier, the shares were rated a Overweight by the brokerage firm. The rating by the firm was issued on June 13, 2016. The company shares have rallied 3.69% from its 1 Year high price. On Jun 23, 2016, the shares registered one year high at $78.31 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $75.51 and the 200 Day Moving Average price is recorded at $70.88.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

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