TheStreet Reiterates Buy Rating for Occidental Petroleum Corp. (OXY)
Occidental Petroleum Corp. (NYSE:OXY)‘s stock had its “buy” rating restated by investment analysts at TheStreet in a note issued to investors on Monday, Analyst Ratings Network.com 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, attractive valuation levels, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
Occidental Petroleum Corp. (NYSE:OXY) opened at 90.57 on Monday. Occidental Petroleum Corp. has a 52 week low of $77.21 and a 52 week high of $99.42. The stock’s 50-day moving average is $93.13 and its 200-day moving average is $92.58. The company has a market cap of $73.005 billion and a price-to-earnings ratio of 16.13.
Occidental Petroleum Corp. (NYSE:OXY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.08. The company had revenue of $6.45 billion for the quarter, compared to the consensus estimate of $6.39 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts predict that Occidental Petroleum Corp. will post $7.00 earnings per share for the current fiscal year.
A number of other firms have also recently commented on OXY. Analysts at Zacks reiterated a “neutral” rating on shares of Occidental Petroleum Corp. in a research note to investors on Thursday, January 9th. They now have a $100.00 price target on the stock. Separately, analysts at Howard Weil downgraded shares of Occidental Petroleum Corp. from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, January 8th. They now have a $106.00 price target on the stock. Finally, analysts at Iberia Capital initiated coverage on shares of Occidental Petroleum Corp. in a research note to investors on Tuesday, December 31st. They set an “outperform” rating and a $105.00 price target on the stock. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Occidental Petroleum Corp. has a consensus rating of “Buy” and an average price target of $105.68.
Occidental Petroleum Corporation (NYSE:OXY) conducts its operations through various subsidiaries and affiliates.
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