Wells Fargo analyst Roger Read maintained a Sell rating on Occidental Petroleum (OXY) yesterday. The company’s shares closed last Tuesday at $15.16, close to its 52-week low of $9.00.
According to TipRanks.com, Read is a 2-star analyst with an average return of 0.9% and a 47.1% success rate. Read covers the Utilities sector, focusing on stocks such as Marathon Petroleum, Delek US Holdings, and Conocophillips.
Currently, the analyst consensus on Occidental Petroleum is a Hold with an average price target of $18.58, a 13.0% upside from current levels. In a report issued on August 4, Credit Suisse also initiated coverage with a Sell rating on the stock with a $8.00 price target.
See today’s analyst top recommended stocks >>
Based on Occidental Petroleum’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.41 billion and GAAP net loss of $2.01 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 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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:
