After Barclays and Susquehanna gave Occidental Petroleum (NYSE: OXY) a Buy rating last month, the company received another Buy, this time from MKM Partners. Analyst John Gerdes maintained a Buy rating on Occidental Petroleum today and set a price target of $50.00. The company’s shares closed last Tuesday at $46.48.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
According to TipRanks.com, Gerdes is a 5-star analyst with an average return of 12.0% and a 54.2% success rate. Gerdes covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Whiting Petroleum Corporation, and Continental Resources.
Occidental Petroleum has an analyst consensus of Moderate Buy, with a price target consensus of $46.94, representing a 5.9% upside. In a report issued on February 25, Bank of America Securities also maintained a Buy rating on the stock with a $65.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
The company has a one-year high of $43.78 and a one-year low of $21.62. Currently, Occidental Petroleum has an average volume of 17.45M.
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:
- Stifel Nicolaus Keeps a Hold Rating on Mosaic Co (MOS)
- BP (BP) Received its Third Buy in a Row
- Analysts Offer Insights on Consumer Goods Companies: National Vision Holdings (EYE) and Lordstown Motors (RIDE)
- Analysts’ Opinions Are Mixed on These Services Stocks: Nielsen Holdings (NLSN) and ALX Oncology Holdings (ALXO)
- Analysts’ Opinions Are Mixed on These Technology Stocks: HP (HPQ), Itron (ITRI) and Ambarella (AMBA)