Occidental Petroleum Corp, a leading oil and gas producer, saw its price target raised by Wells Fargo & Company from $64.00 to $65.00 in a research report on Friday. This increase indicates a potential upside of 3.11% from the current price of the stock.
Occidental Petroleum released their Q4 earnings results on February 27th, displaying solid financials but missing analysts’ expectations for EPS by $0.22. However, Occidental Petroleum had strong year-over-year growth in revenue and net margin, posting 97.6% growth in revenue compared to the previous year.
The company operates through three primary segments-, Oil and Gas, Chemical, and Midstream and Marketing- all involved in exploring for, drilling and producing oil and natural gas.
Despite missed earnings reports, Occidental Petroleum remains an attractive investment opportunity for investors as both the oil and natural gas sectors tend to be dependable industries with consistent returns over the long term. Furthermore, as worldwide demand continues to rise despite increased regulatory measures against fossil fuels, Occidental Petroleum is primed for significant expansion.
Investors must also bear in mind that investing in the energy sector is notoriously volatile due to fluctuations in supply and demand affecting prices frequently. Thus investors need to maintain a long-term perspective when assessing any potential investments within this sector.
Overall, while there are risks attached like any investment venture; the future looks bright for Occidental Petroleum as they continue refining their business model towards diversification while continuing to invest heavily into different exploration capabilities making it increasingly appealing for potential investors looking at stable gains over time.
Occidental Petroleum Corporation, a leading oil and gas exploration company, is facing mixed reviews from analysts with regard to its current stock position. There are currently two analysts that have given Occidental Petroleum shares a sell rating, ten analysts have rated the stock as hold, seven have given it a buy rating and one has assigned a strong buy rating. Despite these mixed reviews, Bloomberg.com suggests an average price target of $74.72 and an average rating of “Hold” for the company.
In March 2017, Barclays raised their target price on Occidental Petroleum from $70.00 to $78.00 in their research reports while Piper Sandler downgraded the stock from $76.00 to $69.00 shortly after. StockNews.com started covering Occidental Petroleum’s stocks at around the same time by issuing a “hold” rating on the stock in March 2017.
Despite mixed reviews from analysts, major shareholder Berkshire Hathaway Inc purchased over three million shares of Occidental Petroleum in March 2017 for an average price of $59.17 per share totalling up to approximately $186 million dollars in sales.
Institutional investors have also shown interest in investing with this company lately; Ironwood Wealth Management LLC entered into ownership position with over $334 thousand worth of shares during Q1 alone.
Occidental Petroleum Corporation operates through multiple segments like Midstream and Marketing, Chemicals and Oil and Gas including exploration of natural gases, oils and other natural liquids like condensate.
Current Occidental Petroleum stock value stands at around 63 dollars as per recent trading hours with high uncertainty among investors regarding future investment possibilities for this company.
