In a report released today, John Freeman from Raymond James maintained a Buy rating on Occidental Petroleum (OXY), with a price target of $70.00. The company’s shares closed last Monday at $40.34, close to its 52-week low of $39.97.
According to TipRanks.com, Freeman ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -15.1% and a 25.3% success rate. Freeman covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Black Stone Minerals.
Occidental Petroleum has an analyst consensus of Hold, with a price target consensus of $56.50.
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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 $4.38 billion and net profit of $632 million. In comparison, last year the company earned revenue of $5.18 billion and had a net profit of $1.86 billion.
Based on the recent corporate insider activity of 70 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 & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.
