In a report released yesterday, Doug Leggate from Merrill Lynch maintained a Buy rating on Occidental Petroleum (OXY), with a price target of $80. The company’s shares closed last Monday at $44.62, close to its 52-week low of $41.83.
According to TipRanks.com, Leggate is a 1-star analyst with an average return of -2.8% and a 46.4% success rate. Leggate covers the Basic Materials sector, focusing on stocks such as Conocophillips, Marathon Oil, and Exxon Mobil.
Currently, the analyst consensus on Occidental Petroleum is a Hold with an average price target of $56.39, a 26.4% upside from current levels. In a report issued on September 5, Susquehanna also initiated coverage with a Buy rating on the stock with a $55 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $83.35 and a one-year low of $41.83. Currently, Occidental Petroleum has an average volume of 9.31M.
Based on the recent corporate insider activity of 68 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 & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.
