Stock Analysis:Occidental Petroleum Corporation (NYSE:OXY) Price Target Change
In an interesting research report sent to clients and investors by Barclays Capital on Tuesday, 8 December, Occidental Petroleum Corporation (NYSE:OXY) had its Estimated Target Price upgraded to $64.00. The firm presently has a solid Underweight rating on shares.
From a total of 25 analysts covering Occidental Petroleum Corporation (NYSE:OXY) stock, 16 rate it a ”Buy”, 2 a “Sell”, and 9 a ”Hold”. This means that 59% of the ratings are positive. The highest target price is $95 while the lowest target price is $57. The mean of all analyst targets is $80.16 with a 18.45% above today’s ($67.31) stock price. Occidental Petroleum Corporation was the topic of 21 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Tudor Pickering downgraded shares on November 6 to “Hold” rating. Citigroup maintained OXY stock in a recent report from September 14 with “Neutral” rating.
The stock decreased 1.84% or $1.26 during the last trading session, striking $67.31. Approximately shares of stock traded hands. Occidental Petroleum Corporation (NYSE:OXY) has declined 15.26% since May 6, 2015 and is downtrending. It has underperformed by 14.46% the S&P500.
The overall sentiment of institutions has decreased to 0.89 in Q2 2015. Its down 0.03, from 0.92 in 2015Q2. The ratio worsened, as 100 institutions have sold all the shares of Occidental Petroleum Corporation that they owned while 383 funds have taken shares off the table. 85 funds have purchased shares for the first time while 347 added to their positions. These institutions now hold 564.38 million shares or 6.27% less than the 602.12 million shares they owned in 2015Q2.
The Fund Adams Asset Advisors Llc currently is holding shares equating to 51.55% of its total portfolio in Occidental Petroleum Corporation representing a total of 4.15 million shares. Another fund,Encompass Capital Advisors Llc, is holding a total of 786,161 shares equating to 9.66% of their holdings. Additionally, Arosa Capital Management Lp has a 665,700 share stake in Occidental Petroleum Corporation which represents 6.36% of their total portfolio. The Fund, Mitchell Group Inc, based out of Texas, has also built up a stake in the stock, which represents a total of 4.69% of their total portfolio. Finally Southport Management L.L.C., a fund which is based in the state of Wyoming reported a total holdings of 35,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to June 19, 2015, shareholders of Occidental Petroleum Corporation have witnessed 0 insider buys, and a total of 1 insider sale equating to a net activity of approximately $790,700 . Feick John E sold 10,000 shares worth approximately $790,700.
Occidental Petroleum Corporation is engaged in the gas and oil exploration and production. The company has a market cap of $52.94 billion. The Company, through its subsidiaries and affliates, operates in the United States, Middle East/North Africa and Latin America. It currently has negative earnings. Occidental operates through three divisions.
According to Zacks Investment Research, “Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental conducts its principal operations through its oil and gas and chemical subsidiaries.” Get a free copy of the Zacks research report on Occidental Petroleum Corporation (OXY).