Occidental Petroleum (OXY) Receives a Hold from Wells Fargo
In a report released yesterday, Roger Read from Wells Fargo maintained a Hold rating on Occidental Petroleum (OXY – Research Report), with a price target of $42.00. The company's shares closed yesterday at $43.82.
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According to TipRanks, Read is a 3-star analyst with an average return of 1.3% and a 48.89% success rate. Read covers the Energy sector, focusing on stocks such as Devon Energy, HF Sinclair Corporation, and Occidental Petroleum.
In addition to Wells Fargo, Occidental Petroleum also received a Hold from Mizuho Securities's Nitin Kumar CFA in a report issued on May 13. However, on May 8, Raymond James reiterated a Buy rating on Occidental Petroleum (NYSE: OXY).
Based on Occidental Petroleum's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.8 billion and a net profit of $936 million. In comparison, last year the company earned a revenue of $5.98 billion and had a net profit of $888 million
Based on the recent corporate insider activity of 56 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. Last month, Avedick Baruyr Poladian, a Director at OXY bought 9,327.00 shares for a total of $198,665.10.
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