Barclays Reaffirms Their Buy Rating on Occidental Petroleum (OXY)


Barclays analyst Paul Cheng maintained a Buy rating on Occidental Petroleum (OXY) yesterday and set a price target of $77. The company’s shares opened today at $65.66.

According to TipRanks.com, Cheng is a 4-star analyst with an average return of 2.8% and a 47.9% success rate. Cheng covers the Basic Materials sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Marathon Petroleum Corporation, and Imperial Oil Limited.

Currently, the analyst consensus on Occidental Petroleum is a Strong Buy with an average price target of $86.67.

See today’s analyst top recommended stocks >>

Based on Occidental Petroleum’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.18 billion and net profit of $1.86 billion. In comparison, last year the company earned revenue of $3.48 billion and had a net profit of $495 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.