Wall Street analysts’ ratings for Occidental Petroleum
Currently, 50% of Wall Street analysts rate Occidental Petroleum (OXY) a “buy,” and 43% of analysts rate it a “hold.” About 7% rate the stock a “sell.” The median price target from these recommendations is $73.58, which is ~12% higher than the January 28, 2016, closing price of $65.87.
Based on the median price targets of recommendations from Wall Street analysts, Murphy Oil (MUR), EQT (EQT), and Consol Energy (CNX) have potential upsides of ~16%, ~19% and ~41%, respectively, from their January 28, 2016, closing prices.
The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies.
OXY’s individual recommendations
As you can see in the above table, the most recent recommendation of “overweight” comes from J.P. Morgan, issued on January 27, 2016. J.P. Morgan assigned OXY the target price of $64, which is ~3% lower than the January 28, 2016, closing price of $65.87.
Oppenheimer assigned OXY the highest target price of $85, which is ~29% higher than the January 28 closing price of $65.87. Oppenheimer issued its recommendation in the second week of January 2016 and didn’t mention any target date for the target price.
Barclays assigned OXY the lowest target price of $55, which is ~17% lower than the January 28 closing price of $65.87. Barclays issued its OXY recommendation three weeks ago and didn’t mention any target date for the target price.
Some of the positives for OXY stock as noted by Wall Street analysts are successful divestment of non-performing assets to boost its cash position, more domestic focus, and strong growth from the Permian Basin.