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Piper Jaffray Maintains Their Buy Rating on Occidental Petroleum (OXY)


Piper Jaffray analyst David Kistler maintained a Buy rating on Occidental Petroleum (NYSE: OXY) today. The company’s shares opened today at $80.75.

According to TipRanks.com, Kistler is a 4-star analyst with an average return of 10.3% and a 63.0% success rate. Kistler covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Whiting Petroleum Corp, and Continental Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Occidental Petroleum with a $100 average price target, a 23.8% upside from current levels. In a report issued on September 18, Edward Jones also upgraded the stock to Buy.

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Based on Occidental Petroleum’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.14 billion and net profit of $843 million. In comparison, last year the company earned revenue of $3.05 billion and had a net profit of $505 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OXY in relation to earlier this year.

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.