Argus Increases Occidental Petroleum Price Target to $116.00 (OXY)
Equities researchers at Argus hoisted their price target on shares of Occidental Petroleum (NYSE:OXY) from $110.00 to $116.00 in a research report issued on Friday. The firm currently has a “buy” rating on the stock. Argus’ price target would indicate a potential upside of 13.31% from the company’s current price.
Shares of Occidental Petroleum (NYSE:OXY) opened at 102.48 on Friday. Occidental Petroleum has a 52 week low of $85.90 and a 52 week high of $105.64. The stock has a 50-day moving average of $100.8 and a 200-day moving average of $98.53. The company has a market cap of $79.896 billion and a P/E ratio of 13.50.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, July 31st. The company reported $1.82 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.75 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter last year, the company posted $1.64 earnings per share. Occidental Petroleum’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum will post $7.27 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on OXY. Analysts at Zacks reiterated a “neutral” rating on shares of Occidental Petroleum in a research note on Monday. They now have a $109.00 price target on the stock. Separately, analysts at Simmons downgraded shares of Occidental Petroleum from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 13th. Finally, analysts at Morgan Stanley upgraded shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 4th. They now have a $120.00 price target on the stock, up previously from $110.00. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $111.93.
Occidental Petroleum Corporation (NYSE:OXY) conducts its operations through various subsidiaries and affiliates.
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