In a report released today, Devin McDermott from Morgan Stanley maintained a Hold rating on Occidental Petroleum (OXY), with a price target of $11.00. The company’s shares closed last Monday at $10.06, close to its 52-week low of $9.00.
According to TipRanks.com, McDermott is a 1-star analyst with an average return of -2.8% and a 39.7% success rate. McDermott covers the Utilities sector, focusing on stocks such as Western Midstream Partners, Hess Midstream Partners, and Continental Resources.
The word on The Street in general, suggests a Hold analyst consensus rating for Occidental Petroleum with a $14.44 average price target.
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The company has a one-year high of $47.58 and a one-year low of $9.00. Currently, Occidental Petroleum has an average volume of 24.35M.
Based on the recent corporate insider activity of 64 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.
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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 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. The Chemical segment manufactures and markets basic chemicals and vinyls. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, natural gas liquids, natural gas, carbon dioxide, and power. The company was founded in 1920 and is headquartered in Houston, TX.