Occidental Petroleum: Pre-Earnings Wall Street Ratings




As of July 24, 2017, most of the 23 analysts (60.9%) covering Occidental Petroleum (OXY) had “hold” recommendations. Four analysts recommended “strong buy,” three analysts recommended “buy,” 14 analysts recommended “hold,” one analyst recommended “sell,” and one analyst recommended “strong sell.”

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Target price

Analysts have given a median target price of $65.50, which is ~10% higher than OXY’s closing price of $59.41 on July 24, 2017.

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

Recommendation changes

In the last three months, “strong buy” recommendations for Occidental Petroleum have risen from three to four, “buy” recommendations have fallen from four to three, “hold” recommendations have fallen from 16 to 14, “sell” recommendations have fallen from two to one, and “strong sell” recommendations have risen from zero to one. Occidental Petroleum’s median and mean target prices have fallen. OXY’s median target price has fallen from $75 to $66.50, whereas its mean target price has fallen from $73.61 to $65.47. Raymond James has cut its target price for Occidental Petroleum by ~6% from $80 to $75.

Other oil and gas producers

Oil and gas companies Diamondback Energy (FANG) and Energen (EGN) have potential upsides of ~27% and ~23%, respectively, based on their July 25 closing prices, and RSP Permian (RSPP) has a potential upside of ~42%. RSP Permian, Diamondback Energy, and Energen all have upstream operations in the Permian Basin. The Direxion Daily S&P Oil & Gas Exploration & Production Bear 3x Shares ETF (DRIP) invests in oil and gas exploration and production companies.


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