Press "Enter" to skip to content

Occidental Petroleum Corp Shares Performs Better than Competitors

Occidental Petroleum Corp. shares dropped 0.63% to $27.01 Thursday. This proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.20% to 4,367.48 and the Dow Jones Industrial Average DJIA rising 0.07% to 34,823.35.

Occidental Petroleum Corp. closed $6.49 short of its 52-week high ($33.50), which the company reached on July 1st. The stock demonstrated a mixed performance when compared to some of its competitors Thursday, as Exxon Mobil Corp. XOM fell 1.13% to $57.11, Chevron Corp. CVX fell 1.00% to $98.82, and ConocoPhillips COP fell 0.61% to $56.67.

Occidental Petroleum Corp trading volume (12.4 M) remained 6.2 million below its 50-day average volume of 18.6 M. The stock’s fall snapped a two-day winning streak. Analysts who follow on average expect it to increase 10.32% over the next twelve months. Those same analysts give the stock an average rating of Buy. That average rating earns Petroleum Corp an Analyst Ranking of 19, which means it ranks higher than 19 of stocks.

Occidental Petroleum had its target price increased by investment analysts at Mizuho from $37.00 to $39.00 in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Mizuho’s target price indicates a potential upside of 40.14% from the stock’s current price. Morgan Stanley reissued an “average” rating and issued a $32.00 target price on shares of Petroleum in a report on Sunday, June 20th. They noted that the move was a valuation call.

Be First to Comment

Leave a Reply

Your email address will not be published.