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Understanding Occidental Petroleum’s 2Q17 Earnings

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Part 6
Understanding Occidental Petroleum’s 2Q17 Earnings PART 6 OF 8

Occidental Petroleum: Post-Earnings Wall Street Ratings

Recommendations

On August 3, 2017, around 30.4% of the total analysts covering Occidental Petroleum (OXY) had “strong buy” or “buy” recommendations on the stock. On August 3, 2017, 23 analysts provided recommendations on OXY.

Of these analysts, four analysts had “strong buy” ratings, three analysts had “buy” ratings, 14 analysts had “hold” ratings, one analyst had a “sell” rating, and one analyst had a “strong sell” recommendation on the stock.

Occidental Petroleum: Post-Earnings Wall Street Ratings

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Target price

These Wall Street analyst recommendations had a median target price of $66.50, which is ~8% higher than its August 3, 2017, closing price of $61.37.

The mean target price for OXY stock from these recommendations is $65.47, which is slightly lower than the median target price.

Recommendation changes

In the last one-month period, analysts’ “strong buy” recommendations for Occidental Petroleum have risen from three to four, and “buy” recommendations for OXY have fallen from four to three. Plus, the stock’s “hold” recommendations have fallen from 17 to 14, and its “strong sell” recommendations have risen from zero to one.

In the last one-month period, Occidental Petroleum’s median and mean target prices have fallen. OXY’s median target price has fallen from $69.50 to $66.50, and its mean target price has fallen from $70.83 to $65.47.

In its most recent target price change, Raymond James cut the target price for Occidental Petroleum by ~6% from $80.00 to $75.00.

Other oil and gas producers

Based on the mean price targets of recommendations from Wall Street analysts, oil and gas companies Energen (EGN) and Diamondback Energy (FANG) have potential upsides of ~23% and ~27%, respectively, from their August 2 closing prices. RSP Permian (RSPP) has a potential upside of ~42%.

RSP Permian, Diamondback Energy, and Energen all have operations in the Permian Basin. The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) invests at least 80% of its total assets in oil and gas exploration companies.

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