Oppenheimer Sticks to Its Hold Rating for Occidental Petroleum (OXY)
In a report released today, Tim Rezvan from Oppenheimer maintained a Hold rating on Occidental Petroleum (OXY). The company’s shares opened today at $59.81, close to its 52-week low of $56.83.
According to TipRanks.com, Rezvan is a 3-star analyst with an average return of 3.4% and a 56.0% success rate. Rezvan covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Gulfport Energy Corp, and Par Pacific Holdings.
Occidental Petroleum has an analyst consensus of Hold, with a price target consensus of $71.60, representing a 19.7% upside. In a report issued on April 22, Mizuho Securities also downgraded the stock to Hold with a $70 price target.
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Occidental Petroleum’s market cap is currently $46.73B and has a P/E ratio of 11.57. The company has a Price to Book ratio of 2.19.
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Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.