Occidental Petroleum Corp. (NYSE:OXY)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday, AR Network reports. They currently have a $98.00 price objective on the stock. Zacks‘ target price indicates a potential upside of 3.75% from the stock’s previous close.
Zacks‘ analyst wrote, “Occidental Petroleum Corporation’s earnings per share in second quarter 2013 missed the Zacks Consensus Estimate and the year-ago figure due to lower contribution from the marketing and trading operations. Quarterly revenues surpassed the estimate primarily backed by strong performances by its domestic operations and a rise in domestic natural gas prices. We expect the company’s strong financial position and diversified asset base, along with a steady capital investment program and cost curtailment measures to drive future growth. Completion of the Al Hosn gas project will act as catalysts. However, commodity price fluctuation, stringent regulations, and risks related to the exploration and production infrastructure damages could offset the aforesaid positives.”
In other Occidental Petroleum Corp. news, VP B Chuck Anderson sold 45,506 shares of Occidental Petroleum Corp. stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $92.00, for a total transaction of $4,186,552.00. Following the completion of the transaction, the vice president now directly owns 28,922 shares in the company, valued at approximately $2,660,824. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
OXY has been the subject of a number of other recent research reports. Analysts at Susquehanna upgraded shares of Occidental Petroleum Corp. (NYSE:OXY) from a “neutral” rating to a “positive” rating in a research note to investors on Friday. They now have a $115.00 price target on the stock, up previously from $103.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Occidental Petroleum Corp. (NYSE:OXY) in a research note to investors on Thursday. Finally, analysts at Wells Fargo & Co. upgraded shares of Occidental Petroleum Corp. (NYSE:OXY) from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Occidental Petroleum Corp. currently has a consensus rating of “Buy” and a consensus target price of $103.17.
Occidental Petroleum Corp. (NYSE:OXY) traded down 0.95% during mid-day trading on Friday, hitting $93.56. The stock had a trading volume of 1,798,424 shares. Occidental Petroleum Corp. has a 1-year low of $72.43 and a 1-year high of $95.57. The stock’s 50-day moving average is $89.33 and its 200-day moving average is $88.12. The company has a market cap of $75.387 billion and a P/E ratio of 17.41.
Occidental Petroleum Corp. (NYSE:OXY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Occidental Petroleum Corp. will post $7.09 earnings per share for the current fiscal year.
Occidental Petroleum Corporation (NYSE:OXY) conducts its operations through various subsidiaries and affiliates.
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