Occidental Petroleum Corp. Receives Buy Rating from TheStreet (OXY)
Occidental Petroleum Corp. (NYSE:OXY)‘s stock had its “buy” rating reaffirmed by TheStreet in a research note issued on Tuesday, AnalystRatings.NET reports.
The analysts wrote, “Occidental Petroleum Corporation (OXY) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
Shares of Occidental Petroleum Corp. (NYSE:OXY) traded down 1.40% on Tuesday, hitting $93.95. 1,244,990 shares of the company’s stock traded hands. Occidental Petroleum Corp. has a 1-year low of $72.43 and a 1-year high of $95.93. The stock’s 50-day moving average is $90.53 and its 200-day moving average is $88.77. The company has a market cap of $75.701 billion and a price-to-earnings ratio of 17.56.
Occidental Petroleum Corp. (NYSE:OXY) last released its earnings data on Tuesday, July 30th. The company reported $1.58 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.68 by $0.10. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.32 billion. During the same quarter last year, the company posted $1.64 earnings per share. Occidental Petroleum Corp.’s revenue was up 3.4% compared to the same quarter last year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Occidental Petroleum Corp. in a research note to investors on Friday, September 27th. They now have a $98.00 price target on the stock. Separately, analysts at Susquehanna upgraded shares of Occidental Petroleum Corp. from a “neutral” rating to a “positive” rating in a research note to investors on Friday, September 27th. They now have a $115.00 price target on the stock, up previously from $103.00. Finally, analysts at Wells Fargo & Co. upgraded shares of Occidental Petroleum Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, September 26th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $103.17.
Occidental Petroleum Corporation (NYSE:OXY) conducts its operations through various subsidiaries and affiliates.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.