Wall Street ratings for Occidental Petroleum
Currently, ~48% of Wall Street analysts rate Occidental Petroleum (OXY) as a “buy” and ~41% of analysts rate it as a “hold.” Around 11% rate the stock a “sell.” The median price target from these recommendations is $74.95, which is ~3% lower than the April 27 closing price of $77.52.
Based on the median price targets from Wall Street analysts, other upstream companies like Memorial Resource Development (MRD), Diamondback Energy (FANG), and Carrizo Oil & Gas (CRZO) have potential upsides of ~23%, ~1%, and ~2%, respectively, from their April 27 closing prices.
Carrizo Oil & Gas has the advantage of higher operating margins per boe (barrel of oil equivalent) compared to its peers, whereas Memorial Resource Development has a 100% hedge protection for its 2016 forecasted production. The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies, whereas the Vanguard Energy ETF (VDE) invests into the broader energy market.
Occidental Petroleum’s individual recommendations
As shown in the above table, the most recent recommendation of “equal weight” came from Capital One Securities on April 27. Capital One Securities assigned Occidental Petroleum the target price of $70, which is ~10% lower than the April 27 closing price of $77.52. Capital One Securities didn’t mention a target date for the target price.
Occidental Petroleum’s lowest and highest target price
Barclays assigned Occidental Petroleum the lowest target price of $54.98, which is ~29% lower than the April 27 closing price of $77.52. Barclays issued its Occidental Petroleum recommendation on April 15, 2016, and didn’t mention any target date for the target price. The highest target price for Occidental Petroleum comes from Cowen. It assigned Occidental Petroleum a target price of $91, which is ~17% higher than the April 27 closing price of $77.52.