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 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.