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Median, Mean Target Prices Indicate Upside for OXY Stock

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Wall Street analysts’ ratings for Occidental Petroleum

Currently, ~11% of Wall Street analysts rate Occidental Petroleum (OXY) as a “strong buy,” ~19% rate it as a “buy,” ~62% rate it as a “hold,” and only ~8% rate it as a “sell.” There are no “strong sell” ratings on the stock.

The median target price from these recommendations is $75.00, ~9% higher than the stock’s January 20, 2017, closing price of $68.59. The mean target price for OXY from the above-mentioned analysts’ recommendations is $77.00, slightly higher than its median target price.

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Ratings and target price changes in the last month

In the last month, analysts’ “strong buy” recommendations for OXY have fallen from five to three. Their “buy” ratings for the stock have fallen from six to five, and their “hold” ratings have risen from 13 to 16. The number of analysts with “sell” and “strong sell” ratings has remained unchanged.

In the last month, Occidental Petroleum’s median and mean target prices have fallen. During this time, OXY’s median target price has fallen from $75.50 to $75.00, whereas its mean target price has fallen from $77.04 to $77.00.

Other oil and gas producers

Based on the median price targets of recommendations from Wall Street analysts, other oil and gas companies Carrizo Oil & Gas (CRZO), Gulfport Energy (GPOR), and Denbury Resources (DNR) have potential upsides of ~30%, ~61%, and ~16%, respectively, from their January 20 closing prices.

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 Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies.

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