In a report released today, Pavel Molchanov from Raymond James maintained a Buy rating on Occidental Petroleum (OXY). The company’s shares closed last Thursday at $11.86, close to its 52-week low of $9.00.
According to TipRanks.com, Molchanov is a 4-star analyst with an average return of 4.5% and a 54.0% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Maxeon Solar Technologies, and Nextera Energy Partners.
Currently, the analyst consensus on Occidental Petroleum is a Hold with an average price target of $16.08, representing a 43.6% upside. In a report issued on September 8, MKM Partners also upgraded the stock to Buy with a $17.00 price target.
See today’s analyst top recommended stocks >>
Based on Occidental Petroleum’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.93 billion and GAAP net loss of $8.13 billion. In comparison, last year the company earned revenue of $4.42 billion and had a net profit of $635 million.
Based on the recent corporate insider activity of 66 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. 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.
Read More on OXY:
