Occidental Petro (NYSE:OXY) Rating Upped
Trading of Occidental Petro (NYSE:OXY)’s shares is going to be interesting today. Credit Suisse boosted the stock from a “Neutral” to a “Outperform”.
Out of 23 brokers covering Occidental Petro, 12 rate it a Buy, 12 indicate a Hold while 2 suggest a Sell. The highest target is $91 and the lowest is $60 according to Thomson/First Call. The 12-month mean target is $78.52, which means upside potential of 24.87% over the current price.
Adams Asset Advisors Llc had the biggest stake with ownership of 5.85M shares as of Q2 2015 for 59.33% of the US long stock exposure. Astenbeck Capital Management Llc is another notably bullish active investment manager who is having 980,000 shares of Occidental Petro or 57.28% of their US long stock exposure. Moreover, Hawkins Capital L.P. have 8.47% of their US long stock exposure invested in the company for 456,971 shares. The California-based fund Perigon Wealth Management Llc disclosed it had bought a stake worth about 4.14% of the active investment manager’s stock portfolio in Occidental Petro. The Maryland-based fund Adams Natural Resources Fund Inc. is also positive about the stock, possessing 221,027 shares or 3.82% of their US long stock exposure.
Occidental Petro (NYSE:OXY) Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
Occidental Petro (NYSE:OXY) closed at $62.88 yesterday. A total of 8,326 shares of the company’s stock traded hands. This is down from average of 5.58 million shares. Occidental Petro has a 52 week low of $61.01 and a 52 week high of $78.48. The company has a market cap of $48.06 billion and a P/E ratio of 0.
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