Occidental Petroleum Gets a Hold Rating from BMO Capital

By Austin Angelo

BMO Capital analyst Daniel Boyd reiterated a Hold rating on Occidental Petroleum (NYSE: OXY) yesterday and set a price target of $65. The company’s shares opened today at $60.01, close to its 52-week low of $57.20.

According to TipRanks.com, Boyd is a 4-star analyst with an average return of 6.0% and a 56.5% success rate. Boyd covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oil States International, and Rice Midstream Partners.

Currently, the analyst consensus on Occidental Petroleum is Hold and the average price target is $67.86, representing a 13.1% upside.

In a report issued on June 19, Scotiabank also maintained a Hold rating on the stock with a $67 price target.

The company has a one year high of $78.48 and a one year low of $57.20. Currently, Occidental Petroleum has an average volume of 5.2M.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OXY in relation to earlier this year. Most recently, in March 2017, Vicki Hollub, the Senior EVP & Pres-Oxy Oil&Gas of OXY bought 15,000 shares for a total of $940,800.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Occidental Petroleum Corp. operates as an international oil and gas exploration company. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls. The Midstream and Marketing segment gathers processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide and power. It also trades around its assets, including transportation and storage capacity. The company was founded in 1920 and is headquartered in Houston, TX.,000SSF-E